Social Media Network Pinterest Secures $150 Million

Pinterest completed $150 million in financing from an undisclosed investor, putting the company’s valuation at $12.3 billion.

Founded in 2009 as a visual bookmarking tool for saving and discovering creative ideas, Pinterest has evolved over the years to be one of the largest social networks in the world, with 175 million monthly active users. People use pinboards to plan their weddings, decorate their homes, and organize their favorite recipes.