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Pinterest Raises $225 Million, as Valuation Jumps to $3.8 Billion (The New York Times/Dealbook)
The tech world may be abuzz about Twitter, but a big new social network is showing that it’s no slouch. Pinterest confirmed on Wednesday that it had raised $225 million in a new round of financing that values the company at $3.8 billion. USA Today Pinterest’s pinboards have emerged a popular destination for socializing specifically around products. Pinterest has also become a prime spot for brands to harness it as a merchandising vehicle to drive people to online stores. Pinterest last month unveiled plans for promoted pins, its first attempt to make money. The Wall Street Journal/Digits In February, Pinterest raised $200 million at a valuation of $2.5 billion. The latest investment gives Pinterest a 52 percent greater valuation. The company said it had not yet spent any of the money raised in February. TechCrunch The question now is how will Pinterest make good on a $3.8 billion valuation. The answer might be an untraditional advertising model. Charging advertisers for impressions or relatively rare mobile clicks might not earn enough money. But if Pinterest developed an advertising scheme that looked more like a revenue share where it gets paid dollars when its ads lead directly to people buying things, opposed to getting paid cents when people click, it could earn revenue worthy of its valuation. AllThingsD In a statement, co-founder and CEO Ben Silbermann said: “We hope to be a service that everyone uses to inspire their future, whether that’s dinner tomorrow night, a vacation next summer, or a dream house someday. This new investment enables us to pursue that goal even more aggressively.” I’d say so — now Pinterest can afford the really big guns.
LinkedIn Announces Intro, a New Service That Brings LinkedIn Profiles into the iOS Mail App (The Verge)
At an event in San Francisco, CEO Jeff Weiner and the rest of his mobile team unveiled a brand-new, completely redesigned tablet app for the iPad and a major update to Pulse, the news reader app that LinkedIn purchased back in April. Additionally, the company launched a “new new product”: LinkedIn Intro.
A Tale of Two YouTubes (SocialTimes)
YouTube recently announced the first annual YouTube Music Awards, as part of a play to further expand its influence as a member of the mainstream media. The site has been very instrumental in both breaking new stars like Macklemore and making available the existing work of established artists through Vevo partnerships.
Facebook Needs to Take a Clear Stance on Violent Imagery (The Daily Dot)
Appearing to change course once again, Facebook then deigned to delete the beheading video that had reignited the debate, announcing yet another policy change that wasn’t much of a change at all. “We will consider whether the person posting the content is sharing it responsibly, such as accompanying the video or image with a warning and sharing it with an age-appropriate audience,” the company stated.
5 Facebook Updates That Affect Business Pages (AllFacebook)
In related news, Facebook is at it again: Have you heard about the updates that affect business pages? If you manage a business page, you’ll want to know about them. Let’s jump right in.
Twitter’s Five Outside Board Members Will Get Up to $16 Million Worth of Stock Each (Business Insider)
Twitter’s five outside board members (the board members whose day jobs aren’t at Twitter) are set to get up to $16 million worth of stock each, as Footnoted points out. Before Facebook’s IPO, its board members each got about $600,000 worth of stock. Google’s board members got about the same.
Airtel Integrates Twitter with TV in India (AllTwitter)
Airtel Digital TV, an arm of Indian telco Bharti Airtel, has integrated Twitter with its digital TV offerings, Tech in Asia reports. Translation: the 15 million Twitter users in India can now tweet while watching TV and view tweets related to their TV shows if they subscribe to Airtel.
White House Aide Fired Over Twitter Account (ABC News/AP)
A White House national security official was fired after it was discovered that he was behind an anonymous Twitter account that criticized the Obama administration. Jofi Joseph was nonproliferation director on the National Security Council and was involved in nuclear negotiations with Iran.
Evernote’s iOS 7 Update Lets You Create Notes in Maps (AppNewser)
Evernote rolled out its iOS 7 app update this week adding a very cool feature called Places, which lets users see their notes placed on a map. This new feature is a very cool tool for writers.