Pinterest Just Raised Another $150 Million, Putting Its Value at $12.3 Billion

Pinterest announced Tuesday that it raised $150 million in capital from existing investors, valuing the company at $12.3 billion. (Adweek)

The last fundraising round was in April 2015, valuing the business at about $11 billion. By raising money, Pinterest is choosing to delay a potential initial public offering as its business model matures. The company generates revenue by selling ads that look like posts on its site. (Bloomberg)

Pinterest says it plans to use the money to help build its new visual search technology, which lets users use images instead of keywords to find things on the service. The money will also be used to help grow its user base outside the United States. Around 40 percent of Pinterest’s users are in the U.S. (Recode)