Pinterest's latest funding round means it's now valued at $11bn

Emma Haslett
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The startup is now ranked among the most valuable venture-backed tech companies in the world (Source: Corbis)

Who knew pictures of wedding dresses and make-up tips could be such big business? Pinterest has just announced that it's raised $367m (£248m), which values it at a whopping $11bn.

But that's not all: the site, which allows its users to create and share "boards" full of images from around the web, hasn't completed this funding round yet - it's open to raising another $208m.

Pinterest has now raised more than $1bn during its seven founds of funding, including a $200m round it completed last May.

According to a report by tech blog TechCrunch, the site will use the cash to "fuel international expansion".

That $11bn valuation means Pinterest now ranks alongside Xiaomi, Uber and Dropbox as one of the most valuable venture-backed startups in the world.

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