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Pinterest Gets $30Mn Secondary Sale Investment From SV Angel

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Pinterest has just gotten a $30 million investment from venture capital firm SV Angel in the company’s secondary sale round.

According to a report from TechCrunch, the investment was confirmed to them by SV Angel cofounder David Lee.

The investment was first spotted in a filing at the United States Securities and Exchange Commission detailing a separate fund raised by the venture capital firm called SV Angel-III Growth P.

According to reports, the investment is at the same $1.5 billion valuation in the primary investment round led by venture capital firm Rakuten last year.

The $30 million fund is a Special Purpose Vehicle which will be primarily used for shareholder liquidity meaning early stakeholders like employees and outside investors can liquidate their holdings earlier.

TechCrunch notes that as usual secondary sales go, this may be another indication that Pinterest is planning to conduct an IPO.

SV Angel has interests in Airbnb, Path, Pinterest, Twitter and Zynga.

Current Pinterest VC investors include Andreessen Horowitz, Bessemer Venture Partners, Brian Cohen, FirstMark Capital, Rakuten and SV Angel.

Pinterest, SV Angel, secondary sale, venture capital

 

About Solon Harmony Dolor

A passion for technology and journalism makes this upcoming writer very interested in social media and technology news. Fresh from finishing an English and Journalism degree from the University of the Philippines Diliman, he aims to bring interesting news to our readers . Don't forget to subscribe and receive our latest posts in your inbox.

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