On Monday, the online bulletin-board style social network Pinterest said that it has raised about $367 million in new capital. The company also stated that the funds were raised at $11 billion valuation, more than double of $5 billion during the last fund raising. According to Pinterest, the new capital will help the company to boost its global expansion plan.

In a statement, Pinterest stated that the company could raise an additional $211 million. The statement further said that the additional capital will be used for corporate purposes. "In 2014, international users grew more than 135%. Today, they are more than 40 percent of all users, up from just 28 percent in 2013", the statement stated.

According to reports, the company disclosed about the new investment in a regulatory filing with the investors on the contract listed as the venture capital firms Andreessen Horowitz and Bessemer Venture Partners.

Last year, valuation of Pinterest was about $5 billion, but in the latest round, it was valued more than double compared to previous year. In 2014, the company had investment of about $200 million. The new deal pushed the company into 11-digit valuation start-up club. According to research firm eMarketer, Pinterest has about 47 million users in the United States, while it could have approximately 75 million users across the globe.

Pinterest is a web and mobile application company, which operates an eponymous photo sharing website. It is one of the Internet's hottest social media websites, and famous among women. It gives users virtual bulletin boards that they can use to decorate with various kinds of images. Last year, the company had launched a tool to help users separate approximately 30 billion pins.

In 2012, Pinterest received about $100 million in investments led by Rakuten, Japanese online giant. Rakuten's Rakuten Ichiba is the largest e-commerce site in Japan.