Pinterest, the online pinboard site, has raised a $100 million round of financing at a $1.5 billion valuation, with all of the new money coming from Rakuten, Japan's leading ecommerce site. Existing venture capital investors Andreessen Horowitz, Bessemer Venture Partners, and FirstMark Capital, as well as several angel investors, also participated in the round. According to Rakuten's press release, the investment is also the start of a strategic partnership where Rakuten will help Pinterest expand to Japan and globally.
According to a Wall Street Journal article, Pinterest has passed 20 million users, up from 1 million users in July 2011. As of now, however, the site currently has little to no revenue.
Link to Rakuten's press release:
http://global.rakuten.com/newsrelease/2012/0517.html
Link to the WSJ article:
http://online.wsj.com/article/SB10001424052702303448404577409212961081738.html
According to a Wall Street Journal article, Pinterest has passed 20 million users, up from 1 million users in July 2011. As of now, however, the site currently has little to no revenue.
Link to Rakuten's press release:
http://global.rakuten.com/newsrelease/2012/0517.html
Link to the WSJ article:
http://online.wsj.com/article/SB10001424052702303448404577409212961081738.html
