Investors are—yes—pinning their hopes on Pinterest's continued success.
The scrapbook-like social network just raised $150 million from a group of existing backers at the same share price as its last funding round in 2015, Bloomberg reports.
The cash infusion boosted the company's worth from around $11 billion to $12.3 billion.
The move confirms speculation that the company plans to delay an inevitable IPO as they continue to build out their ads business.
Despite an aspirational ethos that easily lends itself to all sorts of marketing, Pinterest has mostly lagged when it comes to monetization. It only just started selling video ads last fall, and it only began offering ads at all in 2014. Read more...
More about Pinterest and Businessvia Zero Tech Blog
