Pinterest to Raise Millions in First Test of Paid Advertisements

Pinterest is taking a page from Facebook by offering its first paid advertisement spots. In its test rollout, the scrapbooking website will offer Promoted Pins on users' boards. According to AdAge, the site called for spending commitments between $1 million and $2 million from advertisers. However, Pinterest has limited the number of advertisers in its test run to a dozen to ensure brands remain relevant, tasteful and transparent with the site's overall design. Initial advertisers include Gap, Target, Walt Disney Resorts and Kraft. Last year, Pinterest was valued at $3.8 billion.