Pinterest featured image
News Stories Technology

Photo-sharing app Pinterest to go public in mid-April

Pinterest files its proposal to go public following giant technologies like Uber and Lyft and is expected to launch in mid-April.

2019 has been a year for companies to gear up for a multi-billion IPO. Giant companies such as Airbnb, Lyft, and Uber first took a step on going public. After seeing a lot of opportunities, its time for the photo-sharing app Pinterest to also step up and go public.

Pinterest, the ‘catalog of ideas’, founded by Benjamin Silbermann, Paul Sciarra, and Evan Sharp, is planning to go public and is expected to launch its public offering in mid-April of 2019. Pinterest first took their move towards their IPO plan when they hired Goldman Sachs and JPMorgan to serve as their guarantor.

After being valued at $12.3 billion in 2017, Pinterest claims to have its revenue increased for at least $755.9 million from $482.9 million last year.

Pinterest’s IPO filing did not reveal how much money could the company raised or specific share prices. Kathleen Smith, a principal at Renaissance Capital and manager of exchange-traded funds for IPOs said “Like Snap, Pinterest is in the crosshairs of Facebook, and Facebook has always fought a nasty battle against Snap by copying everything it did.

Meanwhile, Pinterest also plans to grow their business into e-commerce, challenging Amazon and Walmart. The company is already preparing its e-commerce platform and once the platform succeeds, the company may have another source of revenue.