Pinterest raises $150 million to improve its image research
On Tuesday, June 6th 2017, Pinterest officialized a historic fundraising of $150 million. The operation allows the US company to value itself at $12.3 billion.
Created in 2010, unlisted on the stock exchange and fortified by 175 million users, Pinterest allows its users to share their interests (passions, hobbies, fashion…) through photo albums gleaned on the Internet.
Improvement of the algorithms and the international deployment. On June 6th, the company officialized a fundraising of $150 million. It’s a historic fundraising. Pinterest has never asked from its shareholders as much money. The US company intends to use this fundraising to improve its international deployment. But above all to improve its vision algorithms for research and image recognition.
In February 2017, Pinterest launched a new service with multiple applications : Lens ! For the moment, Lens is available only in the american territory. This intuitive service allows the platform to gain a new source of revenue. For the year 2017 thanks to this service, Pinterest aims at a turnover of at least $500 million.
Lens for e-commerce. For example, Lens allows the user to take a picture of a piece of furniture and to see proposed a list of similar products available on a commercial website.
Lens to « shazam » your dishes. The service also allows, for example, to take a picture of an apple and to see recommendations of recipes with this ingredient, thanks to the immense database and content present on the social network.
With this $150 million fundraising, Pinterest becomes the 9th biggest start-up in the world. It is valued at $12.3 billion.
Image CC : CNN tech