Pinterest files to go public

By IPOsFOXBusiness

Lyft, Pinterest plan IPO this year

MarketWatch San Francisco Bureau Chief Jeremy Owens on Lyft and Pinterest’s plans to go public and the state of the IPO market.

Pinterest disclosed its intention Friday to go public on the New York Stock Exchange, joining a slew of companies looking to capitalize on a booming IPO market.

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The social media company, which allows users to “pin” posts based on their interests, said in a S-1 filing that it will trade under the stock ticker “PINS.” 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.

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Pinterest initially submitted its IPO plans confidentially. The company could go public by as early as mid-April, though the timeline is subject to change, the Wall Street Journal reported.

Pinterest said it had more than 250 million monthly active users as of December 2018 and more than $750 million in revenue in fiscal 2018. Global average revenue per user was $3.14, up 25 percent compared to the same period one year ago. The company generated a net loss of $63 million last year.

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The filing was made public one day after jeans maker Levi Strauss returned to public markets, with shares rising more than 30 percent in its first day of trading. Ride-sharing companies Uber and Lyft are also preparing to go public this year.

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