Latest Funding Round Values Pinterest at $5 billion

Latest Funding Round Values Pinterest at $5 billion

Pinterest Inc. has been able to raise $200 million as funding which will give the San Francisco social media company a valuation of $5 billion. The current valuation is higher compared to $3.8 billion that was assumed seven months ago.

The entire funding during the current round came from its existing investors which include SV Angel, Fidelity Investments, Bessemer Venture Partners, Andreessen Horowitz, FirstMark Capital and Valiant Capital Partners. Pinterest said, the new round takes the total amount raised to $764 million.

The arrangement for funding of Pinterest, which has not yet started breeding significant sales, is part of jumbled fundraisings at multibillion-dollar estimations.

The startup of San Francisco's car-service Uber Technologies Inc., is looking forward to join the club of $10 billion-plus.

Sources familiar with issue says, Uber, which in into making a mobile application used for booking rides, is in negotiations for investment which may value it at $10 billion or more. In that case it would approximately triple the value of the company from last year's $3.5 billion when it gathered $258 million.

In case the valuation of Uber goes beyond $10 billion, it would be all set to join an elite group of closely held companies with 11-digit valuations.