Pinterest confirmed a new round of funding today at $225 million, giving the social network an estimated valuation of $3.8 billion.
Lead by Fidelity Investments, this is on top of the $200 million it raised in February 2013.
From Co-Founder and CEO Ben Silbermann:
“We hope to be a service that everyone uses to inspire their future, whether that’s dinner tomorrow night, a vacation next summer, or a dream house someday. This new investment enables us to pursue that goal even more aggressively.”
In the past couple months, Pinterest has made at least four significant announcements.
Its first ever ads, promoted pins, have started undergoing testing, and article pins make it easier than ever to share stories from your favorite websites.
Bing users can now see Pinterest boards alongside image search results, and a partnership with Telefonica pre-installs the official app on millions of Android devices.