Pinterest raises $200m in new funding round

May 17, 2014 3:07 am

Photo pin-up site, Pinterest has said it has raised a new $200m round of funding that gives it a valuation of $5bn, Reuters has reported. The funds were raised from existing investors SV Angel, Bessemer Venture Partners, Fidelity, Andreessen Horowitz, FirstMark Capital, and Valiant Capital Partners, Pinterest said. The company last raised money in October 2013 at a $3.8bn valuation in a round led by Fidelity Investments. The capital would be used to invest in technology, develop its advertising program further, and expand internationally, the firm said.