Move over, Facebook. Pinterest, the social site that lets people “pin” pictures and content to create collections of interest, has become the latest company to be valued at more than $1bn (£630m), following a $100m round of funding.
While estimates of the effective valuation implied by the investment vary between $1bn and $1.5bn, they highlight the fact that Pinterest has already discovered a business model in which it collects an “affiliate” payment on purchases people make via the site.
The new valuation is at least a fivefold leap in value since October 2011, when a previous financing round put it at $200m.
Click here for the full article: Pinterest valued at more than $1bn after raising $100m funding | Technology | guardian.co.uk.
