Key Takeaways
- • Bessemer Venture Partners led Pinterest's $10 million Series A financing round, establishing an early institutional anchor in what would become a multi-billion-dollar exit.
- • Pinterest achieved $37.5 million in total funding before its April 2019 initial public offering on the New York Stock Exchange (NYSE: PINS), with Bessemer maintaining significant exposure across the capital stack.
- • Jeremy Levine, a Bessemer partner, identified Pinterest as a breakout social commerce opportunity in 2010 when the platform was in closed beta with 1 million monthly unique visitors; five of his early-stage investments (LinkedIn, MindBody, Pinterest, Shopify, and Yelp) subsequently grew into billion-dollar publicly traded companies.
- • Bessemer's investment thesis positioned Pinterest at the intersection of user-generated content, social networking, and e-commerce—a segment the firm had extensively researched through prior investments in Yelp, Playdom, and Zoosk before committing capital to Pinterest.
Summary
Bessemer Venture Partners established itself as an early institutional backer of Pinterest through its $10 million Series A financing round, a foundational investment in what would eventually become a major consumer platform. The visual discovery and social commerce company, founded by Paul Sciarra and Ben Silbermann and based in Palo Alto, launched publicly in Q2 2010 after pivoting from an original product concept called "Totes." By the time of Bessemer's investment decision, Pinterest had already demonstrated compelling early traction despite limited availability, registering 1 million monthly unique visitors and 20 million monthly page views in February 2010, with the majority of traffic originating through organic social channels including Twitter, Facebook, and Tumblr.
Jeremy Levine, a Bessemer partner, spearheaded the firm's conviction in Pinterest after tracking the company's development from late 2009 onward. Levine's investment thesis was grounded in extensive prior research into the convergence of user-generated content platforms, social networks, and e-commerce infrastructure—a thesis informed by earlier Bessemer portfolio companies including Yelp, Playdom, Zoosk, Wikia, and OLX. Pinterest emerged as the first company demonstrating measurable commercial success at this intersection, justifying Bessemer's participation in the financing.
The investment proved consequential for both parties. By the time Pinterest reached its Series B round, total capitalization had grown to $37.5 million. The platform ultimately went public on the New York Stock Exchange in April 2019 under ticker NYSE: PINS, delivering substantial returns to early venture investors. Levine's identification of Pinterest as a generational opportunity formed part of a broader track record: five of his early-stage investments—LinkedIn, MindBody, Pinterest, Shopify, and Yelp—matured into publicly traded billion-dollar companies, positioning Bessemer as a heavyweight in identifying transformative consumer platforms during their earliest stages.
Jeremy Levine, a Bessemer partner, spearheaded the firm's conviction in Pinterest after tracking the company's development from late 2009 onward. Levine's investment thesis was grounded in extensive prior research into the convergence of user-generated content platforms, social networks, and e-commerce infrastructure—a thesis informed by earlier Bessemer portfolio companies including Yelp, Playdom, Zoosk, Wikia, and OLX. Pinterest emerged as the first company demonstrating measurable commercial success at this intersection, justifying Bessemer's participation in the financing.
The investment proved consequential for both parties. By the time Pinterest reached its Series B round, total capitalization had grown to $37.5 million. The platform ultimately went public on the New York Stock Exchange in April 2019 under ticker NYSE: PINS, delivering substantial returns to early venture investors. Levine's identification of Pinterest as a generational opportunity formed part of a broader track record: five of his early-stage investments—LinkedIn, MindBody, Pinterest, Shopify, and Yelp—matured into publicly traded billion-dollar companies, positioning Bessemer as a heavyweight in identifying transformative consumer platforms during their earliest stages.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.