Pinterest Inc. has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering that is expected to value the company, which operates a platform for Internet searches, of $ 12 billion or more, as it becomes a hot tech parade. startups are planning part debut in 2019.
Submission is the last example of a rush to the public markets of highly valued technology companies, including ri-hailing service providers Lyft Inc. and Uber Technologies Inc., both of which have been filed confidentially for listings. Such companies had for years divorced from public markets – a luxury provided with a surfeit of private capital – but in recent months the tide has turned.
The shift seems to stem from the large sizes that new tech shares have had too late. As of this week, shares in US listed technologies and internet companies that were published in 201
Bankers and others predict that 2019 may be the busiest year ever for IPOs with the amount of money raised. The current high-water mark is 1999, near the height of the dot-com bubble, as companies increased $ 107.9 billion in the US, according to Dealogic. Last year was nearly half, of $ 60.8 billion, up from $ 49.4 billion in 2017.
As a result of the partial government's suspension, which prevented the SEC's ability to sign up for listing plans, Been some tech IPOs in the US so far this year. But with the closure drama over and markets being restored after a volatility at the end of last year, floodgates are ready to open for new problems.
Lift, which filed confidently for its IPO late last year, can make its submission public next week and start trading on Nasdaq by the end of March, The Wall Street Journal reported Wednesday. Uber kept confidential at the same time at the end of last year, while the provider of workplace messages, Slack Technologies Inc., has since submitted paperwork for a so-called direct listing.
Many of the largest companies will be published in 2019, regardless of market conditions. In some cases, as in Uber, they have told investors that they would not increase additional private capital.
It's a big turnabout from last year, when many companies that expected to debut in 2018 delayed their plans when markets swooned among fears of slowing economic growth in the US and other concerns. While some large companies were still launched, they had a harder time pricing their offers. Two of the largest autumn exchanges were biotech
and music streaming company Tencent Music Entertainment Corp.
Shares of Tencent Music, which brought a valuation of more than $ 20 billion to pricing, have risen by about 30% since then. Moderna, who had been one of the most valued startups in health care, has also not gone. The biotech company increased more than $ 600 million, pricing its shares at $ 23 each in early December. It suffered one of the worst opening days for a company that goes public last year. Since then, the stock has recovered somewhat, but still trades below the offer price, and ends on Thursday at $ 19.39.
Pinterest and its guarantors, led by Goldman Sachs Group Inc. and JPMorgan Chase & Co., are looking at a list of late June, according to people close to agreement. They warned that, as always with IPOs and unpredictable markets, the timing or valuation could change. Pinterest recently increased funding privately to a $ 12 billion valuation.
The social media company's chief executive, Ben Silbermann, has said the company will be debating in 2019, and The Wall Street Journal reported in December that it was preparing a stock exchange listing as soon as April.  In September, Pinterest, which was launched in 2010, surpassed 250 million monthly active users, who visit the site to browse and share billions of images on topics ranging from living room furniture to dinner recipes and tattoos.
The company generates revenue from advertising spread over its side and crooked more than $ 700 million in 2018, up 50% from the previous year, according to a person familiar with the case.
The company was in the news earlier this week when the journal reported that Pinterest has stopped returning search results related to vaccinations in a move to curb the spread of misinformation.
Write to Maureen Farrell at firstname.lastname@example.org