Pinterest Raises Another $200 Million And Is Now Valued At $5 Billion

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ben silbermann Pinterest

Vine/Jack Dorsey

Ben Silbermann, CEO of Pinterest

Pinterest, a visual search engine where people "pin" images of things they're interested in, just raised $200 million.

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The deal values the company at $5 billion, sources tell ReadWrite. 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."

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The company raised $200 million in February 2013 and another $225 million in October.

As ReadWrite points out:

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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.

Just last week, the company was valued at $3.8 billion. The social network controls 23% of referral traffic to e-commerce sites. That, plus the promise of paid advertising 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.