Pinterest valued at $3.8 billion in venture capital deal
Thursday, October 24, 2013 11:27 AM
The social media website Pinterest has won a $225 million round of equity funding that values the company at $3.8 billion, Reuters reported.
The deal makes Pinterest one of the most valuable privately held consumer Internet companies. Pinterest, founded by West Des Moines native Ben Silbermann, will use the money to expand internationally and develop its mobile apps.
Pinterest unveiled a revenue strategy last month when Silbermann announced a way for advertisers to use "promoted pins."