Now two things are more clear about the fast-growing social pinboard curation service – a business model and a valuation.
Japanese e-commerce giant Rakuten has confirmed it is leading a $100 million investment in Pinterest, together with existing backers Andreessen Horowitz, Bessemer Venture Partners and FirstMark Capital plus angels.
Rakuten CEO Hiroshi Mikitani (via announcement):
“While some may see e-commerce as a straightforward vending machine-like experience, we believe it is a living process where both retailers and consumers can communicate, discover, and curate to make the experience more entertaining.
“We see tremendous synergies between Pinterest’s vision and Rakuten’s model for e-commerce. Rakuten looks forward to introducing Pinterest to the Japanese market as well as other markets around the world.”