Is Pinterest Raising a Round?

Pinterest may indeed be prepping another capital raise. Business Insider interviewed six industry sources and all of them confirmed a round that would value Pinterest at close to $1 billion. Most of the sources told Business Insider that Pinterest was raising the round, but one said that the company was simply entertaining offers from venture capitalists while not yet officially having a round.

As Business Insider reached out to a dozen VCs, they found that the latter source might be the most accurate. Allyson Shontell writes, “The thought is, if everyone says there’s a round happening, Pinterest will cave to the demand.”

Sources close to the company say that Pinterest is not holding a formal round at this time, though they may consider one later this year. But according to industry insiders, the company already has plenty of offers on the table. Business Insider quoted an unnamed source who said, “It’s like a nerd’s game of chess and they’re all trying to ask out the prom queen.”

To contact the reporter on this story: Ashley Cloninger at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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