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Work on Pinterest began in December 2009 and the site achieved closed beta status in March 2010. The site proceeded to operate in invitation-only open beta. Later, the site made registration possible after an email request. On August 16, 2011, Time magazine published Pinterest in its “50 Best Websites of 2011” column.
Cold Brew Labs is the corporate name for the company that owns Pinterest.
In October 2011, the company secured $27 million in funding from Andreessen Horowitz, which valued the company at USD $200 million. Earlier in the year, it had been valued through venture financing at only $40 million.