Pinterest Raises $150 Million at 2015 Share Price
Company valuation rises to $12 billion due to increase in total number of shares.
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Pinterest Inc. raised $150 million in venture funding from a group of existing investors at the same share price as two years ago as growth at the closely held company fails to keep pace with internet rivals.
The last fundraising round was in April 2015, valuing the business at about $11 billion. Because the number of shares in the company has grown over time, its new valuation is $12.3 billion, Pinterest said. The company filed securities documents associated with the financing, which were analyzed by private stock market firm Equidate and shared with Bloomberg.