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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The link below is to an article that takes a look at Facebook.
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With 1.35 billion active monthly users, Facebook continues to be the world’s largest social network by some margin, but when it comes to picking up new users, it appears to have reached a saturation point. Research out today from the Global Web Index notes that Tumblr’s active user base in the last six months grew by 120%, while Facebook’s grew by only 2%.
And in overall member growth, Pinterest took the lead with 57% growth while Facebook’s member base grew by 6%.
Instagram, LinkedIn,Twitter, YouTube and even Google+ all grew faster than Facebook.
In mobile apps specifically, while Facebook is the largest app today, Snapchat — with an emphasis on teen and 20-something users — is the fastest growing of them all, up 56% this year. It is however followed closely by Facebook Messenger and Instagram — a sign of not just how Facebook’s mobile apps continue to represent the company’s growth drivers, but…
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The link below is to an article that considers the future of Facebook as the leading social network.
The link below is to an article that suggests Facebook is on the decline. However, given the money it is still making it is hardly a concern to the company yet.