I seem to know a lot of people that send me cute pictures of cats with a funny caption or some new recipe that I will end up ruining in the kitchen anyhow. All of these come from the site Pinterest.com. Apparently, numerous people love the cat pics so much that Rakuten, a company that has the largest e-commerce site in Japan and among the world’s largest by sales has raised $100 million in a funding round that had existing investors Andreessen Horowitz, Bessemer Venture Partners, and FirstMark Capital and a number of other angel investors participating as well.
Over at AllthingsD, they’re reporting that Rakuten will invest upwards of $50 million and that this funding will bring Pinterest’s value to $1.5 billion.
That is a huge step up from $200 million the company was worth last October.
“Our goal is to help people discover things they love, by connecting people through their shared interests. Bringing Rakuten on board gives us an amazing opportunity to move a step closer to this goal.” co-founder and CEO of Pinterest, Ben Silbermann, said in a statement.
Having the backing of an e-commerce company as large as Rakuten, we will likely see monetization of most functions of Pinterest, which is good for me since I can finally purchase a frameable picture of the cat who loves his couch.