Pinterest has raised an additional $US186 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.
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 $US11 billion. Pinterest raised $US367 million earlier this year and said in a regulatory filing at the time that it could raise an additional $US208 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.
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 $US11 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.