Pinterest’s latest funding round means it’s now valued at $11bn
Who knew pictures of wedding dresses and make-up tips could be such big business? Pinterest has just announced that it's raised $367m (£248m), which values it at a whopping $11bn.
But that's not all: the site, which allows its users to create and share "boards" full of images from around the web, hasn't completed this funding round yet – it's open to raising another $208m.
Pinterest has now raised more than $1bn during its seven founds of funding, including a $200m round it completed last May.
According to a report by tech blog TechCrunch, the site will use the cash to "fuel international expansion".
That $11bn valuation means Pinterest now ranks alongside Xiaomi, Uber and Dropbox as one of the most valuable venture-backed startups in the world.