Pinterest raised the most money from venture capitalists last year, as the online scrapbooking site that has fast become a retailers’ favourite took in $425m from two funding rounds.
Technology company valuations ballooned in 2013, with Twitter soaring on its initial public offering and the price of deals in the sector rising. The private market also boomed and Pinterest took both the third and fourth largest funding rounds of the year, according to data compiled by research firm PrivCo.
The online pinboard saw its valuation rise by more than 50 per cent to $3.8bn between the two rounds despite being unprofitable and in the early stages of generating revenue from advertising.
The San Francisco-based company led by Ben Silbermann raised money from Fidelity Ventures, Valiant Capital Partners and Andreessen Horowitz, among other venture capital firms. It has raised $563m in total.
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