Japanese e-commerce company and owner of the country’s largest e-commerce site Rakuten is leading a $100 million investment in the online pinboarding site Pinterest, with participation from existing investors Andreessen Horowitz, Bessemer Venture Partners, and FirstMark Capital, as well as a number of angel investors. The investment reportedly values Pinterest in the range of $1.5 billion.
The investment also marks the start of a strategic partnership between Rakuten and Pinterest to help expand in Japan and into Rakuten’s 17 other global markets.The funding will allow Pinterest to continue improving its service and expanding its community globally.
Hiroshi Mikitani (CEO, Rakuten): 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.
[Image Courtesy: Pinterest]