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Hot online pinboard site Pinterest has closed a $27 million round of funding led by Andreessen Horowitz, we’ve confirmed. As part of the financing, general partner Jeff Jordan will be joining Pinterest’s Board of Directors.
If you’ve attended any mass gathering of investors in Silicon Valley lately, you’ve probably heard some buzz about invite-only visual bookmarking site Pinterest raising a “massive” round. Business Insider initially reported the round as having $75+ million valuation last week and then amended its report to reflect that the valuation was actually lower according to another one of their sources.
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This morning Pinterest co-founders Ben Silberman, Paul Sciarra and Yashwanth Nelapati woke up to a barrage of tweets , “So @myspace has completely ripped off @pinterest. It really pisses me off when an old, tired hack tries to undermine hardworking inovators. [sic]“ Myspace revealed its new redesign last night and Pinterest users quickly picked up on the similarities between the two site aesthetics, leading to an intense Twitter debate.