Pinterest aims to raise $1.3bn in its IPO
Pinterest, which acts like a digital scrapbook, took in about $756m in revenue from online adverts in 2018 — 60% growth on the previous year
San Francisco — Pinterest is seeking to raise as much as $1.28bn (R18bn) in a US initial public offering (IPO) that could value the company below the amount it reached in its last private valuation. The maker of online inspiration boards is offering 75-million shares for $15 to $17 apiece, according to a filing on Monday. Based on the total number of Class A and Class B shares outstanding after the offering, if it priced at the top of the range, that would give Pinterest a market valuation of about $9bn, according to data compiled by Bloomberg. Its fully diluted value could be higher. In its last private funding round in 2017, the company raised $150m for a total valuation of about $12.3bn. San Francisco-based Pinterest accelerated its offering to capitalise on the hot US market for IPOs, which expects to see a flurry of US tech companies go public this year. In March, number-two US ride-hailing giant Lyft priced its shares at $72 in the largest offering from a tech upstart since Sn...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.