Pinterest raises $150 mln, valuing photo-sharing app at $12.3 bln: Reuters

(Reuters) — Photo-sharing application company Pinterest has raised $150 million from existing investors in its latest round of funding, which values the company at $12.3 billion, a company spokeswoman said on Tuesday.

The latest funding round has slightly increased the company’s valuation from $11 billion when Pinterest raised $367 million in March 2015.

The additional capital will be used for further investments in visual technology and global expansion, the spokeswoman said in a statement over email.