Friday, 18th May 2012
In Business In Japan,
Japan's Rakuten invests $100m in Pinterest
The successful internet social network Pinterest has received a boost after the Japanese internet behemoth Rakuten announced it is investing $100 million in the company.
Having quickly established itself as a leading player in the international social media industry, the US company is looking to continue expanding and the investment from Rakuten has come at the perfect time.
The US-based site - which employs a unique notice-board format that allows users to 'pin' items of interest - has revealed that the investment will allow it to improve the service and grow its global community.
A reported 17 million different users visit the site each day, but the new strategic partnership between the two companies will help Pinterest move into the global markets in which Rakuten currently operates.
"We see tremendous synergies between Pinterest's vision and Rakuten's model for e-commerce," said Hiroshi Mikitani, chief executive at Rakuten.
"Rakuten looks forward to introducing Pinterest to the Japanese market, as well as other markets around the world."
Written by Graham McPherson