After 9 Years, Pinterest Launches IPO

Pinterest was launched in January of 2010, and after 9 years they are now launching an IPO.

The company has already gained SEC approval and reported on Monday that they are seeking $15-$17 per share, with a total of 75 million shares being offered to the public. This would value the company at less than the $12 billion at which they sourced their last fundraiser in 2017. It would, however, net the image-search platform a good amount of money. The higher end of Pinterest’s target range is around $11.30 billion in market valuation. Ideally, this would also net the company $1.3 billion in net proceeds after restricted stock options are taken into consideration.

The Pinterest stock will be offered under the acronym PINS on the New York Stock Exchange. The company reported an annual net revenue of $755.9 million in 2018, a 60% increase from the previous year. However, Pinterest remains unprofitable, as they reported a $62.97 million net loss in 2018, although this was a huge improvement over the $130 million net loss reported in 2017.

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5 years ago
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