Pinterest Is Now Valued at $11 Billion


Originally posted on TIME:

Pinterest has raised $367 million in a new round of funding that more than doubles the website’s valuation to $11 billion.

The latest funding round, revealed Monday, lifts the social bookmarking service’s valuation from from $5 billion, according to The Wall Street Journal, moving the company even higher up the list of tech industry “unicorns” — startups valued higher than $1 billion. What’s more, Pinterest said in its regulatory filing that it also plans to raise another $210 million in the current funding round.

The newly raised funds will go toward international expansion, according to WSJ, which reported last month that Pinterest was seeking funding that would value the company at about $11 billion.

As Fortune has noted, Pinterest is part of a growing group of tech startups with ballooning valuations and a potential prime candidate for a blockbuster IPO at some point this year.

Pinterest reached its…

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Instagram Is Now Worth $35 Billion


Originally posted on TechCrunch:

Citigroup raised the valuation of Instagram this morning from $19 billion to $35 billion.

The photo-sharing network recently announced it had surpassed 300 million active users, and has taken steps toward cleaning up spam accounts, as well as adding new filters and features in an update this week.

Instagram was acquired by Facebook back in April of 2012 for $1 billion. The acquisition came at a time when Instagram only had around 27 million users on iOS. However, the company saw over a million downloads n the first day of launching on Android, and Facebook put the pedal to the metal and closed the deal.

Instagram has since grown to have more active users than Twitter.

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These Australian Social Media Reactions To The #SydneySiege Are Perfect


Originally posted on TechCrunch:

The hostage situation in Sydney’s busy city district has crossed over into day two, with the identity of the hostage taker revealed as Man Haron Monis.

The perpetrator, 49, is a self-proclaimed sheikh already pending trial and out on bail for being an accessory to murder. He still has an unconfirmed number of hostages captured inside a Lindt Cafe in Sydney. Some hostages escaped or were otherwise freed, and police have now stormed the cafe, according to the NYT.

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TechCrunch isn’t the place for breaking news on the situation, which can be found here and here. But as the world watches Sydney, we noticed a specific, and now-viral, status update from Jason Maggs. It has now been shared more than 16,000 times on Facebook, noted by FBNewswire, and we’re simply hoping to pass the powerful message along.

He wrote:

I just caught a train home…

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Sydney is showing solidarity with Muslims with the hashtag #illridewithyou


Originally posted on Quartz:

Amid the ongoing hostage crisis in Sydney, Australia, social media is overflowing with the hashtag #illridewithyou. Meant initially as an offer to actually ride with Muslims who might feel unsafe using public transportation in the wake of the hostage situation, the hashtag has now been adopted globally as a gesture of solidarity with Muslims everywhere.

The hashtag was created when Twitter user @MichaelJames_TV shared a screenshot of a woman’s Facebook status about how she tried to comfort a Muslim woman at a train station.

Another Twitter user, @sirtessa, came up with the idea for the hashtag after retweeting the interaction.

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