Pinterest has announced this week an additional capital of $150 million being raised at a valuation $12.3 billion, as it makes a further full-court press on its visual recognition and search pitch to investors and advertisers — and perhaps one day Wall Street.
Pinterest last raised $367 million in additional financing at an $11 billion valuation in 2015. In recent years, the company has started to tout its image recognition technology and products built on top of that – such as Lens, a visual search engine built into your camera. The interactive shoppable store-front functionality differentiates Pinterest from its competitors, and boasts a higher spending active community than other social platforms.
All of this is a pitch to advertisers that Pinterest can get products in front of users in different ways than Facebook and Google, with the aim of eventually converting them to buyers.