Business

Pinterest has now raised more than half a billion dollars in its latest financing round

Posted May 07, 2015 11:00 pm

Alexei Oreskovic

Pinterest has raised an additional $186 million in funding, with new investors Goldman Sachs and Wellington Management Company contributing to a hefty financing round that now totals more than a half a billion dollars.

The additional funding, which was reported by Re/code on Friday, marks the completion of a Series G funding round that valued the privately-held San Francisco company at $11 billion. Pinterest raised $367 million earlier this year and said in a regulatory filing at the time that it could raise an additional $208 million.

It seems there are plenty of investors eager to bankroll the richly-valued social networking company, which began experimenting with its first revenue generating ads in January.

Goldman Sachs and Wellington join existing investors Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital, SV Angel, Valiant Capital Management and Fidelity Investments.

Pinterest will also allow its employees to cash out some of their equity, by arranging a so-called "secondary offering" with unnamed external investors at the $11 billion, according to Re/code. Employees with stock options that vested before April 30 will be able to sell a "small portion" of their shares.

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See Also:

<ul><li>Social media is the fastest growing source of e-commerce traffic </li><li>Facebook is still the most popular social network among teens, and Instagram's in second place</li><li>Pinterest says more guys are joining the site than ever. Here's what they're doing</li></ul>

ALONG THE SAME LINES: 2-year-old Zenefits is now a $4.5 billion company that just raised a whopping $500 million

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