A month ago, we wrote that Pinterest, a startup that lets everyone keep a virtual bulletin/inspiration board, was raising a massive round.A source involved in the financing confirms this and suggests the valuation could be massive. (Originally, we reported $75+ million, but another source says this is too high).
That’s impressive considering Pinterest has yet to generate revenue. But the site is growing quickly, and investors think it can be big in the long term. Rob Go, an investor in Boston who says he was not involved in the round, says why he’s bullish on Pinterest:
“I’ve said before that I think experiential shopping is a big opportunity, and the process of buying stuff like art, furniture, fashion, etc should be very very different than what we typically see from e-commerce today. The day before I heard about Pinterest, I was literally thinking about how to create a product that merges the best of SVPPLY and Polyvore for the market for home-goods. I’ve been using Pinterest for this purpose ever since. The product is beautiful (if a little slow), the content I’m finding from other users is inspiring, and I’m noticing mainstream friends of mine signing up for the service way more than some much more hyped companies like Instagram. It’s super early, but I think the company is on a great path.”
We’ve reached out to the founders about the financing and will let you know when we have more details.
We first wrote about Pinterest in the 20 Hot Silicon Valley Startups You Need To Watch list. Would we steer you wrong?
Not sure what Pinterest is? Pinterest pages are like collages. Here’s an example of a user’s Pinterest board. This user is dragging and dropping pictures of her “dream house” and saving them on her page for design inspiration.
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