Confirmed: Pinterest Raises $27 Million Round Led By Andreessen Horowitz. 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. AllThingsD first reported that Andreessen Horowitz was leading a round of over $25 million that values the young startup at up to $200 million (the firm declined to confirm the valuation). This new funding round comes just a few months after a $10 million round the company closed this past spring, led by Bessemer. Pinterest is still invite-only, but it has garnered plenty of attention around Silicon Valley. And, notably, the site is getting a lot of traction outside of the tech bubble. The site is very visually oriented, with photos everywhere — which is what makes it fun to browse through the pinboards of other users.
When you spot something you like on someone else’s board, you can re-pin it onto yours (sort of like a Tumblr reblog). Andreessen Horowitz invests in Pinterest. Ben Silbermann, Evan Sharp, and Paul Sciarra cofounded Pinterest. Digital pinboard site Pinterest is closing a round led by Andreessen Horowitz after a frenzy of interest. Andreessen Horowitz's Jeff Jordan tells us the check was cut for $27 million, and that the round came together over two to three weeks.
He did not comment on the valuation, although we hear from another source that it's ~$200 million. We originally reported the round was massive, at least a $75 million+ valuation. Our valley source says there was a "frenzy" to get into the round, as the company has become, "the toast of the town. " Jordan says user growth and engagement numbers are incredlbe, and that he hasn't seen adoption numbers like Pinterest's since Facebook's early days. Pageviews are up 50% month over month and are now about one billion per month, says one source. Pinterest provides pages that users can turn into inspiration boards. Pinterest is also a social site. Pinterest Has Already Pinned Down $10M At A $40M Valuation. 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.
We’re hearing from multiple sources that Pinterest already quietly raised a $10 million Series A from Bessemer late this spring, at a $40 million pre-money valuation. According to the same sources, the company is now trying to raise around the same amount in a Series B whose valuation one source has pegged at around $125 million and another has held at under $200 million (note: one uninvolved investor I talked to said those valuations for a Series B seemed “ridiculous” right now). Why raise money again, so close to your Series A? Pinterest / Home. Pinterest.com - Quantcast Audience Profile.
Pinterest raising round at a big valuation.