Social bookmarker Pinterest has made its first acquisition, a recipe aggregator called Punchfork.

Terms of the deal for the two-year-old Punchfork weren’t disclosed.

The acquisition comes at an interesting time for Pinterest, which launched in 2008, as the social bookmarking site is itself said to be a possible acquisition target this year.

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Last May, Pinterest caught the attention of Japanese Internet service firm Rakuten Inc., which led a consortium that invested $100 million in the startup. Others in the consortium include Andreessen Horowitz, Bessemer Venture Partners and FirstMark Capital, along with several angel investors.

Rakuten has been expanding its e-commerce presence outside of Japan, and in 2010 acquired Aliso Viejo, Calif.-based for $250 million through Rakuten USA.

Many on the venture capital side are keeping an eye on Rakuten, wondering if it might take on a greater stake in Pinterest, or in some way help to grow Pinterest into a marketplace platform.

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