Pinterest Receives $3.8 Billion Valuation

Illustration for article titled 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.

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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.

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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]

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I'm really not looking forward to the "promoted pins" thing. There are already enough spam pins and herbalife type pyramid scams on there. Couldn't they make money off of referrals, or am I the only one who occasionally buys stuff by clicking through to the original source? It's probably the biggest market research tool out there right now, can't they just harness that?