Pinterest reportedly preparing for IPO
25 Feb 2019
Pinterest has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering (IPO) around June, according to the Wall Street Journal. The company is seeking a valuation of 12 billion US dollars.
If confirmed, Pinterest would be the latest in a series of tech companies confidentially filing for IPOs in recent times, following Uber and Lyft Inc. These companies managed to avoid going public for years because they always attracted investors -- a trend which is reversing as of late, according to the newspaper.
While much smaller than other social networks (Pinterest has a user base of 250 million users, against 2.2 billion on Facebook, 1 billion on Instagram and 326 million on Twitter), Pinterest is a powerful tool to reach out to new customers, as it is a platform to discover new products, brands and styles.
FashionUnited has contacted Pinterest for comment, but the company said it does not comment on speculations.