Pinterest IPO: $63M loss, $756M revenue

Roman Schwartz
March 25, 2019

Pinterest applied to list on the New York Stock Exchange under the ticker "PINS".

This follows a trade group representing top USA pension funds and asset managers asking exchanges to require companies seeking to go public with share classes with unequal voting rights to have plans to equalize them within seven years. Pinterest had been planning to go public in June, seeking to raise about $1.5 billion in an IPO valuing it at least $12bn, people familiar with the matter previously said.

The ride-hailing app and social media platform are both reportedly considering selling their shares on the New York Stock Exchange after completing their initial public offerings this year.

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Pinterest filed for its IPO confidentially in February. Pinterest will offer two classes of stock at its opening, with Class A shareholders receiving one vote per share and Class B shareholders receiving 20 votes per share. The company could go public by as early as mid-April, though the timeline is subject to change, the Wall Street Journal reported.

The company had a 2018 net loss of $63M, down from the $130M loss in 2017, on revenue of $755.9M, up from $472.9M. The San Francisco-based company has grown rapidly since its founding in 2008, boasting 250 million monthly active users last September.

Goldman Sachs and JP Morgan are the lead underwriters on the Pinterest IPO.

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