Pinterest, the social network that styles itself as a scrapbook, has seen its valuation soar by more than 50 percent in just eight months after its latest fundraising round valued the company at $3.8 billion.
The San Francisco-based company, which has yet to generate any revenue, raised $225 million in a round led by Fidelity Investments with participation from existing investors. The social network had already raised $200 million earlier this year at a valuation of $2.5 billion.
(Read more: Well, Pinterest had to make money at some point)
Ben Silbermann, Pinterest co-founder and chief executive, said the investment would enable the company to move more "aggressively", including funding its international expansion and attempting to monetize the service.