You & Mr Jones invests $20m in Pinterest
Brand technology company You & Mr Jones has revealed that it invested $20m in Pinterest during the image-sharing platform’s last fundraising round, which closed in June and totaled $150m.
This marks the first investment that You & Mr Jones has made in Pinterest, which reached 200 million monthly active users last month. According to You & Mr Jones, the $20m investment can be seen as a “major vote of confidence in the platform and the value of visual search technology for brand marketers,” especially since the company’s typical level of investment normally hovers around the $2m mark.
“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,” said David Jones, founder of You & Mr Jones, in a statement. “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.”
Jones founded You & Mr Jones in 2015 after serving as global chief executive of Havas. Since launching, the company has made 16 investments, four acquisitions and launched two start-ups. Acquisitions have included mobile marketing shop Mobkoi, influencer marketing platform theAmplify, creative crowdsourcing company MoFilm and data firm Fifty-Five, while previous investments include Mashable, Pokémon Go developer Niantic and GIF platform Gfycat.