social shopping

Pinterest, the fast-growing online scrapbooking site, has raised $200m, valuing the three year-old company at $2.5bn.

The San Francisco-based company is adding to its unconventional list of investors with this financing round, rather than turning to the Silicon Valley venture capital firms that typically lead investments for a company at this stage of growth.

The latest round was led by Valiant Capital Management, a hedge fund in San Francisco founded by Christopher Hansen, who is better known for his attempts to bring an NBA basketball team back to Seattle than his technology bets. Read more

David Gelles

Last week’s announcement by Facebook that it would use PayPal as its payments provider brought together two of the most potent forces on the internet – e-commerce and social networking.

Yet for all the promise each sector holds, the two have been slow to converge. Online shopping is still a generally solitary affair, while social networking has yet to place much emphasis on buying stuff. This may soon change.

Today the chief executive of Ebay, which owns PayPal and is the world’s largest online auctions site, offered new insights into how e-commerce and social networking might work in concert with one another, and what he sees as the next big opportunities for collaboration. Read more