Pinterest has now raised more than half a billion dollars in its latest financing round

Advertisement

Ben Silbermann Sun Valley Pinterest

Getty / Scott Olson

Pinterest has raised an additional $186 million in funding, with new investors Goldman Sachs and Wellington Management Company contributing to a hefty financing round that now totals more than a half a billion dollars.

Advertisement

The additional funding, which was reported by Re/code on Friday, marks the completion of a Series G funding round that valued the privately-held San Francisco company at $11 billion. Pinterest raised $367 million earlier this year and said in a regulatory filing at the time that it could raise an additional $208 million.

It seems there are plenty of investors eager to bankroll the richly-valued social networking company, which began experimenting with its first revenue generating ads in January.

Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

Goldman Sachs and Wellington join existing investors Andreessen Horowitz, Bessemer Venture Partners, FirstMark Capital, SV Angel, Valiant Capital Management and Fidelity Investments.

Pinterest will also allow its employees to cash out some of their equity, by arranging a so-called "secondary offering" with unnamed external investors at the $11 billion, according to Re/code. Employees with stock options that vested before April 30 will be able to sell a "small portion" of their shares.

Advertisement

NOW WATCH: What It Was Like On The Trading Floor During Twitter's IPO