/// Exclusive: Pinterest Completes $200 Million Funding at $2.5 Billion Valuation
Pinterest, the popular social scrapbooking site, has completed a massive $200 million funding, which values the company at $2.5 billion, according to sources close to the situation. There have been reports that the funding was coming , but now it is done, in a round led by Valiant Capital Partners. Existing investors, including Andreessen Horowitz, Bessemer Venture Partner and FirstMark Capital also participated. Its last round was in May of 2012, when it raised $100 million from Japanese e-commerce firm Rakuten. It’s likely that the San Francisco-based Pinterest will use the money for further product development, as well as accelerate international expansion, to further expand the scope of its impact and reach. While it sounds too simple to be so valuable, consumers have flocked to the free site on which they “pin” photos of their interests and share them widely. Usage has exploded and has also become an increasingly key driver of traffic across the Web. It now has close to 50 million unique monthly users worldwide and has added quintupled its employees to 100 in the last year. I have a call into Pinterest and await confirmation.
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