Pinterest Trying for a June IPO

Pinterest filed paperwork with the Securities and Exchange Commissions for an IPO earlier this week with expectations of a $12 billion valuation.

Bill Silbermann, Pinterest’s chief executive, said the company looks forward to a June 2019 debut. The company, launched in 2010, recently passed the 250 million monthly active user mark. Ad revenue was up 50% last year at $700 million for 2018.

While there haven’t been any tech IPOs in the United States yet in 2019, that may be due to uncertainty brought about by the government shutdown and volatility in the markets late last year. 2019 is expected to be a busy year for IPOs. It may break the 1999 record of $107.9 billion raised by companies going public. Last year the total was $60.8 billion, and in 2017, companies raised $49.4 billion by going public.

Lyft is poised to make their IPO submission public next week, with plans to start trading on the Nasdaq by late March. Uber told their investors that they wouldn’t attempt to raise additional private capital prior to going public this year. The two biggest IPOs last fall were music-streaming company Tencent Music Entertainment Group and biotech firm Moderna Inc.

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