Pinterest raises $150M at a $12.3B valuation as it makes a full press into visual search

Pinterest said today that the company has raised $150 million in additional capital at a valuation of $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 — like Lens, its visual search engine built into your camera. All this is a pitch to advertisers that Pinterest can get products in front of users in different ways than Facebook and Google and eventually convert them to buyers. For example, Pinterest said its ads would soon be powered by its visual search…

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