Virtual Scrapbooking Site Pintrest Now Valued Around $5 Billion

While we at Streetinsider.com aren't too familiar with the site, many out there are huge fans of Pintrest. So much so, the site has garnered a valuation of around $5 billion.

The WSJ noted that Pintrest drew $200 million worth of investments during a recent fundraising round and its valuation is now one of the richest venture capital-backed startups around.

In the latter-part of 2013, Pintrest raised $225 million for a valuation of $3.8 billion, meaning its worth has grown 32 percent over the last seven months.

Backers include VC firms like Bessemer Venture Partners and Andreessen Horowitz, hedge fund Valiant Capital Partners and a Japanese e-commerce firm, Rakuten Inc., the WSJ said.

Something of a virtual scrapbooking site, Pintrest allows users to pin things that interest them to their respective profiles. Because users are also more likely to buy items they see on the site, Pintrest could draw a loftier advertising premium versus sites like Twitter (NYSE: TWTR) and Facebook (Nasdaq: FB).

No word on whether Pintrest plans to conduct an IPO soon was mentioned.

You May Also Be Interested In

• Rubrik IPO: 5 key things to know
• Berry Global Group (BERY) and Glatfelter (GLT) Reach Regulatory Milestone in Proposed Transaction for Spin-Off and Merger of Berry’s Health
• ContextLogic (WISH) Urges Stockholders to Vote FOR the Value Maximizing Transaction with Qoo10 TODAY