Pinterest Receives $3.8 Billion Valuation

Pinterest, the virtual pinboard/social networking site that has a proven strong appeal to women, just received a valuation of $3.8 billion. Pinterest is now one of the most valuable privately held Internet companies, establishing that women's aspirations are worth a hell of a lot of cash.

Just last May, the three-year-old company was valued at $1.5 billion. But after securing $225 million in equity funding this week the valuation has soared, even though Pinterest hasn't really proven that it can actually make money.

Last month, CEO Ben Silbermann unveiled a strategy to bring in revenue through a "promoted pins" advertising program that must've been impressive enough to land the nearly quarter-billion-dollar deal.

Pinterest valued at $3.8 billion in hefty financing deal [NBC News]