US-based Pinterest, a visual discovery platform, is in talks to raise $500 million at a $11 billion in the coming weeks from unnamed investors.
In 2014, the firm had secured $200 million at $5 billion valuation, as per a WSJ report. In 2013, the company had received $225 million at a valuation of $3.8 billion. Including this round, Pinterest has raised a total capital of $764 million till date from SV Angel, Bessemer Venture Partners, Fidelity, Andreessen Horowitz, FirstMark Capital, and Valiant Capital Partners.
Started in March 2010, as a venture of Ben Silbermann, Evan Sharp and Paul Sciarra, Pinterest allows users to upload, save, sort, and manage images (known as pins), through collections called pinboards. It helps people to discover and save ideas for cooking, travel, home, improvement and more. It is a free-to-use platform, whereby user’s content as well as contents by other users can be browsed on the main page.
Users can also save their pins to one of their own boards using the ‘Pin It’ button and can personalize their experience with Pinterest by pinning items, creating boards and interacting with other members.