Pinterest, the sensational social bookmarking site has raised a whopping $100 million from Japanese e-Commerce Platform Rakuten, at a $1.5 billion valuation today. If you are still new to Pinterst, the social service is a content sharing service that allows members to “pin” images, videos and other objects to their pinboard.
“We see tremendous synergies between Pinterest’s vision and Rakuten’s model for e-commerce. Rakuten looks forward to introducing Pinterest to the Japanese market as well as other markets around the world,” said Rakuten CEO Hiroshi “Micky” Mikitani in a press release.
He further stated that “Initially, the partnership with Rakuten will help support Pinterest’s global expansion,” said Neel Grover, CEO of Rakuten’s Buy.com. “Rakuten’s global investment in e-commerce is illustrated by a presence in 17 countries and regions through 13 group companies. Longer term, there are a number of opportunities for meaningful partnerships between the two companies, as there are tremendous synergies between Pinterest’s vision and our model for e-commerce where both retailers and consumers are more social, interactive and empowered.”
Pinterest had raised about $37.5 million through its Series A, Series B and angel rounds before the latest investment from Rakuten.
Rakuten ranks among the top 10 internet companies in the world. Among its numerous online properties, its flagship B2B2C (business-to-business-to-consumer) model e-commerce site Rakuten Ichiba is the largest e-commerce site in Japan and among the world’s largest by sales.
