Pinterest Gets $100M In Funding From Japan’s Rakuten, Now Valued at $1.5 Billion

0
6

The 3rd largest social networking site, Pinterest, has pinned down a lead investor in their highly contested round of funding according to AllThingsD.  The Japansese e-commerce company, Rakuten, will invest “upwards of $50 million in a $100 million round.”  This total investment round will place the valuation of Pinterest at $1.5 billion dollars.

The partnership makes sense from an offerings and from a global expansion standpoint.  Pinterest has stopped leveraging affiliate links for revenue and moving forward with commerce on the site is a logical next step.  With the global expansion, Rakuten released the following statement in an official press release:

The funding will allow Pinterest to continue improving its service and expanding its community globally. The investment also marks the start of a strategic partnership between Rakuten and Pinterest to help expand in Japan and into Rakuten’s 17 other global markets.

Last October a round of $25 million had valued Pinterest at $200 million.  Just seven months later, Pinterest’s valuation has risen 750%.  Rakuten is a leader in e-commerce with over 10,000 employees worldwide.

For more information please see AllThingsD.


About The Author

Greg Finn is the Director of Marketing for Cypress North, a company that provides world-class social media and search marketing services and web & application development. He has been in the Internet marketing industry for 10+ years and specializes in Digital Marketing. You can also find Greg on Twitter (@gregfinn) or LinkedIn.

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here