Rakuten, a Japan-based online marketplace, led a $100m investment in US-based social network Pinterest on Thursday.
Rakuten was joined in the round by venture firms Andreessen Horowitz, Bessemer Venture Partners, and FirstMark Capital, as well as various angel investors.
The investment is also a strategic partnership between Rakuten and Pinterest, and the Japan-based internet retailer said it would help expand Pinterest in Japan and Rakuten’s 17 other markets.
Hiroshi Mikitani, chief executive of Rakuten, said: "While some may see e-commerce as a straightforward vending machine-like experience, we believe it is a living process where both retailers and consumers can communicate, discover, and curate to make the experience more entertaining. We see tremendous synergies between Pinterest’s vision and Rakuten’s model for e-commerce. Rakuten looks forward to introducing Pinterest to the Japanese market as well as other markets around the world."
Rakuten was founded in 1997 and it has more than 10,000 employees and partner staff globally.
Last year Pinterest raised $27m in a round at a $200m valuation, news provider All Things Digital said. It also raised $10m at a $40m valuation earlier in the year.