(Courtesy of Pinterest)Pinterest has raised $150 million in venture funding at a $12.3 billion valuation to help fund visual search and global expansion efforts, the company said on Tuesday. This year, Pinterest is reportedly aiming to exceed $500 million revenue after reportedly generated $300 million in revenue last year and about $100 million in revenue in 2015. Mobile search has increased 40% on Pinterest year-over-year, and revenue per search query has doubled since the beginning of the year, the company said on Tuesday. This year, the company expanded its suite of visual search tools with the launch of Lens, which allows users to use their smartphone cameras to search on Pinterest. "Everything on Pinterest is visual," Pinterest CEO Ben Silbermann said at the company's headquarters in February.

Source: Forbes June 06, 2017 22:12 UTC