The deal values the company at $5 billion, $4. We reached out to Pinterest, who confirmed the deal.
"Pinterest has a vision of solving discovery and helping everyone find things they'll love," cofounder and CEO said in a statement. "This new investment gives us additional resources to realize our vision."
The company raised $200 million in February 2013 and another $225 million in October.
As ReadWrite points out:
This frequent fundraising will likely raise eyebrows, given concerns over sky-high valuations for private Internet companies. But the San Francisco-based startup plays a unique role in a trend we call the Visual Web-the shift of Web consumption, creation, and commerce from text to images. And it faces a very well-funded competitor in Google.
$4. The social network $4 to e-commerce sites. That, plus $4 on the horizon, makes it seem that Pinterest is in a good spot to actually justify its valuation.
Pinterest has raised a total of $764 million.