Pinterest just raised a huge round and is now worth $11 billion

Pinterest has raised $367 million, according to a new regulatory filing. The Wall Street Journal is reporting Pinterest raised the new round at an $11 billion valuation.

In addition, the regulatory filing says Pinterest could raise up to $208 million in additional funding.

Citing someone familiar with the matter, WSJ reports the current round includes existing and new investors. This round of funding is expected to close within the next few weeks.

The new valuation would more than double Pinterest's value from last May, when it raised $200 million at a $5 billion valuation.

Since its founding in 2009, Pinterest has raised $762.5 million in seven rounds of funding.

Pinterest's $11 billion valuation would put the icompany among the ranks of the most highly valued private tech companies in the world, including Xiaomi (valued at $46 billion), Uber (valued at $41.2 billion), and Palantir and Snapchat (valued at $15 billion).