AllThingsD is reporting that Pinterest has raised a $200 million funding round that values the company at $2.5 billion.
In other words, the rumors appear to be true.
The visual social network’s last round was in May of 2012, when the company raised $100 million at a $1.5 billion valuation. The current round, if true, comes close to doubling Pinterest’s valuation … and gives it much more time to figure out revenue.
Valiant Capital Partners apparently led the round, but existing investors Andreessen Horowitz, Bessemer Venture Partners and FirstMark Capital also reportedly took part. Japanese web retailer Rakuten led the previous round.
Pinterest still only has about 100 employees, and while the network’s growth may have slowed, it has solidified a place alongside Facebook and Twitter as one of the top three social networks in North America. It currently has about 31 million unique monthly visitors, according to Compete.com:
I’ve contacted Pinterest PR for comment and will update as we learn more.