Following news that Pinterest raised $367 million in its latest funding round (Series G), valuing it at $11 billion, it now wants to raise another $211 million before the round closes, to bring the total to well over half a billion dollars, reports say.
Pinterest, which provides a social sharing service, said new investors have joined the round but did not name them. Plans for the proceeds reportedly include international expansion.
The start-up launched in 2009 and has raised over a billion dollars in seven previous funding rounds.
Pinterest lets advertisers target users via Promoted Pins and wants to take this a step further to offer additional targeting options based on aggregate anonymous data, co-founder Evan Sharp told Mobile World Live last month.
The company has also added “app pins” to its service, a move that could deliver a new way to solve the challenge of app discovery.
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