Image sharing website Pinterest files for IPO
(Adds details on financials)
By Diptendu Lahiri
March 22 (Reuters) - Pinterest Inc, the owner of the image
search website known for the food and fashion photos that its
users post, filed for an initial public offering with U.S.
regulators on Friday, looking to tap into a red-hot market for
new stock offerings.
The company, which plans to list under the symbol "PINS" on
the New York Stock Exchange, set a placeholder amount of $100
million to indicate the size of the IPO. The final size will
change. Reuters previously reported it could raise up to $1.5
billion in the IPO.
The filing comes a day after jeans maker Levi Strauss & Co's
blockbuster debut, and ahead of ride-hailing service
providers Lyft Inc and Uber's much-awaited listings.
Pinterest said its annual revenue in 2018 was $755.9
million, up 60 percent compared to 2017. It reported a net loss
of $62.97 million, up from a net loss of $130 million a year
Pinterest was valued at $12 billion in its last fundraising
round in 2017. The company said in the filing on Friday that it
reaches more than 250 million monthly active users, two thirds
of whom are female.
Goldman Sachs and JP Morgan are the lead underwriters on the
(Reporting by Diptendu Lahiri in Bengaluru and Liana B. Baker
in New York; Editing by Sriraj Kalluvila)
First Published: 2019-03-22 14:37:28
Updated 2019-03-22 23:05:15
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