Global brand technology company You & Mr. Jones announced that it invested $20 million in Pinterest as part of the social network’s H round of financing.
You & Mr. Jones said in an email to Social Pro Daily that it typically invests around $2 million, “so this can be seen as a major vote of confidence in the platform and the value of visual search technology for brand marketers.”
Pinterest’s series H fundraising round, which closed in June, totaled $150 million and marked the first time You & Mr. Jones invested in the company.
You & Mr. Jones founder David Jones said in a release announcing the investment: “We’re excited about our investment in Pinterest, a state-of-the-art visual discovery tool—and are even more excited about Pinterest’s future. At a simplistic level, phase one of the internet economy was all about intent and monetizing tied to what people were intending to do. Phase two then built on this by adding an identity layer. We believe phase three is now taking things further than ever before, delivering the ability to tailor content for people via their interests. Pinterest sits firmly at the heart of this new interest economy. We have made a commitment to support and partner with technology companies that deliver unbeatable experiences for people. Pinterest, with its 200 million monthly active users, is clearly winning the hearts and minds of users, and as the company expands and grows, we anticipate even greater opportunities for our brand partners.”