Social pinboard Pinterest has raised US$200m in a funding round that values the company at around US$5bn.
According to ReadWrite, Pinterest raised US$200m in February 2013 and another US$225m in October.
“Pinterest has a vision of solving discovery and helping everyone find things they’ll love,” Pinterest’s CEO Ben Silbermann said.
“This new investment will give us additional resources to realise our vision.”
Founded in 2010, Pinterest has become one of the biggest content-sharing websites for people looking to arrange holidays, events or just share content they have come across online.
Oh, how Pinteresting!
Pinterest has amassed 30bn pins – or pieces of shared content – from users and has seen growth of 50pc in the last six months.
The site has seen 750m boards (pinboards) also created in the last six months.
The next step for Pinterest is to introduce “guided search” for mobile devices, to make the search for particular items more accurate.
The app will also expand its search terms to user-generated search terms – well beyond the 32 terms Pinterest currently has in place.
Pinterest image via Shutterstock