Remember Pinterest’s massive $200 million Series F round last year? They’re coming back for more — lots more.
According to a just-released filing, Pinterest is looking to raise over half a billion dollars — and it’s already over halfway there.
Pinterest has already raised $367 million dollars in this latest round, and they’re still open to raising another $211 million before they’re done.
If Pinterest sell its entire offering, this latest round (which would be Pinterest’s Series G) will come in at $577,916,906.
The company confirmed to me that its valuation now sits at $11 billion. Meanwhile, a Pinterest rep tells me the company will use this latest round to “fuel international expansion” amongst other things.
Since launching in 2009, Pinterest has raised $764M dollars; once this round closes (whether or not they raise the full $578M), they’ll have surpassed the billion dollar mark.
Pinterest’s crazy funding timeline so far, according to Crunchbase:
Jan, 2010 – 500k Angel round
May, 2011 – $10M Series A
Oct, 2011 – $27M Series B
May, 2012 – $100M Series C
Feb, 2013 – $200M Series D
Oct, 2013 – $225M Series E
May, 2014 – $200M Series F
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According to WSJ article interview (January 2014) with Pinterest CEO Ben Silbermann, his company is expected to have nearly +600 Million revenue. In the interview, Pinterest CEO mentions that IPO is not their end goal of the company. Do you believe that Pinterest is worth at $11Billion valuation and would be worth pursuing to advertise on Pinterest?
Share your thought! Comment Below!