Pinterest RePins Its Social Media Prowess with $200 Million in New Funding

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Earlier this month, Search Engine Journal reported that Pinterest was seeking a fresh infusion of cash after a phenomenal year of growth.  Yesterday the virtual pin board company confirmed that it had secured $200 million in new funding and has now been valued at $2.5 billion.  “Our focus is on helping millions of people discover things they love,” said Pinterest Chief Executive Ben Silbermann in a statement. “This investment gives us more resources to help realize that vision.”



According to CNet, a company spokesperson said that Pinterest plans to use the new money to continue development on technology and features, recruit talent, expand internationally, invest in its infrastructure, and make “strategic acquisitions of both talent and technology.”

This should be great news for businesses using Pinterest to reach their customers.  The investment should bring more tools to track user activity and quantify business return on investment.  Look for opportunities to advertise or pay to promote visual content in the near feature.  I hope that they will develop the power tools that businesses will want to pay a premium for.

Image Credit: Pinterest

Michelle Stinson Ross

Michelle Stinson Ross

Content & Outreach Goddess at AuthorityLabs
Michelle Stinson Ross is a digital marketing industry recognized authority on the outreach power of social media. She has worked as a community manager and consultant for several brands to increase brand awareness, raise the visibility of special promotions, and train their teams to use the social space to connect with media influencers and the public. Michelle is part of the marketing team at AuthorityLabs and co-hosts #SocialChat, a Twitter based live chat that covers a variety of topics geared toward social media marketing (Mondays at 9 p.m. ET). Her passion for social media marketing has made her a regular conference speaker at events like ClickZ Live, and Search Marketing Expo. She has also been a featured guest on Webmaster Radio and several industry Hangouts on Air.
Michelle Stinson Ross
Michelle Stinson Ross
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  • Daniel

    It’s already the 13th biggest social network in the World yet 72% of its traffic comes from US. Will they use the cash to go mega-global?