Pinterest value at USD3.8 billion after massive Series E financing round

By Rizza Sta. Ana

Oct 24, 2013 05:25 AM EDT

Information from sources at information technology news site All Things D had been confirmed by Techcrunch that content sharing service Pinterest closing with a whopping USD225 million in its Series E financing round. The round, led by Fidelity Investments, was participated by existing investors FirstMark Capital, Valiant Capital Management, Andreessen Horowitz and Bessemer Venture Partners. The recent funding would bring the value of Pinterest to USD3.8 billion.

Pinterest founder and chief executive Benn Silbermann said to All Things D, "We hope to be a service that everyone uses to inspire their future, whether that's dinner tomorrow night, a vacation next summer, or a dream house someday. This new investment enables us to pursue that goal even more aggressively."

The recent funding would go towards its expansion in the international market, as it has plans to launch in 10 companies before the year ends. Moreover, it would also continue developing its monetization program for global application. Pinterest also said it would be making capital investments in improving the service's technical infrastructure.

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