Photo-based social network Pinterest just landed another round of funding.
Pinterest raised $200 million from investors like Valiant Capital Management, Andreessen Horowitz, Bessemer Venture Partners, and FirstMark Capital … and that should mean there’ll be little hurry to take the company public.
The amount was raised at a valuation of $2.5 billion — that’s up from the $1.5 billion that was struck back in May, but seemingly still low considering the company’s rampant growth — the number of monthly unique visitors has soared from 9 million to 48 million in just a year. It’s possible Pinterest felt some of the impact from the poor performances of companies like Facebook (NASDAQ:FB), Zynga (NASDAQ:ZNGA) and Groupon (NASDAQ:GRPN). Had those IPOs done better, it’s possible Pinterest could have been valued much higher.
Pinterest — essentially an online scrapbook allowing people to “pin” photos and videos on a webpage — still has some challenges of its own. Monetization still appears to be in the early stages (though it looks like it will involve a blend of advertising and ecommerce). Plus, the site also tends to skew heavily toward female users; the seeming lack of universal appeal could limit its growth.
But with its new round of funding, Pinterest has plenty of money and some more time to figure these issues out.
Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of “How to Create the Next Facebook” and “High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.