Pinterest hit the $5 billion mark after successfully completing a $200 million Series F led by SV Angel, TechCrunch reported. Existing investors Bessemer Venture Partners, Fidelity, A16Z, FirstMark Capital and Valiant Capital Partners also reportedly contributed.
The photo-sharing startup raised $200 million in February 2013, and another $225 million last October because SURE WHY NOT. Pinterest is now one of the most valuable V.C.-funded startups in the world, the Wall Street Journal notes.
Then again, maybe Pinterest does have a promising future beyond all the butts and stupid quotes. When it comes to sharing information, the site reportedly ranks third behind only Facebook and Twitter — it’s apparently more popular than email! The company also has lofty dreams of competing with search engines like Google and Bing, evidenced by last month’s debut of their “guided search” tool for their mobile app.
Still, we can’t help but lament that we live in a world where no one will pay for the news, and yet a glorified virtual bulletin board is estimated to be worth $5 billion.