Pinterest Said to Be Raising Funding at $11 Billion Valuation

Pinterest Inc. is seeking to raise funding at a valuation of about $11 billion, according to a person familiar with the matter, continuing the soaring values of a group of high-profile technology startups.

The online scrapbooking company, which people use to pin photos of trips or items they aspire to purchase, plans to raise $500 million, said the person, who declined to be identified because the information is private. If completed, the deal would more than double Pinterest’s value from $5 billion in a funding round last May.