Pinterest fundraiser drives $11bn valuation

Pinterest raised $367m in its latest fundraising round the company announced on Monday (16 March).

The internet scrapbook company is now valued at $11bn as a result with the company refusing to name its newest backers.

Among previous investors of Pinterest is Japanese e-commerce giant Rakuten with past funding rounds pulling in a combined $764m.

The Wall Street Journal states that only five private-venture start-ups have a higher value: SpaceX, Snapchat, Palantir, Uber and Xiaomi with Indian online retail firm Flipkart drawing even with Pinterest’s $11bn.

Since it was founded in March 2010, the pinboard site has raised over $1bn in funding.

This comes as the Pinterest drives its monetisation efforts through the implementation of more diverse advertising options, earlier this month announcing that it will be trialling animated Pins on behalf of brands looking to attract the attention of users.