Pinterest has completed another round of huge funding, according to the Wall Street Journal. The social scrapbooking site raised $225 million—with the help of late-stage investor Fidelity Investments—raising its valuation to $3.8 billion.
Pinterest co-founder and CEO Ben Silbermann confirmed the new funding, investors and valuation, saying, “We hope to be a service that everyone uses to inspire their future, whether that’s dinner tomorrow night, a vacation next summer, or a dream house someday. This new investment enables us to pursue that goal even more aggressively.”
Pinterest raised $200 million in funding in February, giving it a valuation of $2.5 billion just eight months ago. The company also recently hired country managers in France, England and Italy and plans to expand into up to 12 additional countries by the end of the year.