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Pinterest files for a first public offer in stock on the NYSE



Digital scrapbook Pinterest has filed for a first public offer of stock and joining a busy IPO season for tech stocks. Pinterest is a great website for so-called influencers, who use it to exploit fashion, interior design and travel tips, among other things.

Pinterest said Friday it will list on the New York Stock Exchange with the ticker symbol "PINS." Submission has not said how much the company is seeking to increase or the number of shares available. Based in San Francisco, Pinterest claimed revenue of $ 756 million last year, up 60 percent from 2017, but it made a loss of $ 63 million. However, the loss was reduced from the massive $ 130 million in losses from 2017.

The company has increased $ 1

.5 million from previous investors having a valuation of $ 12.3 billion, according to PitchBook Data, Pinterest claims 250 million users are investigating the site each month . Pinterest's main source of income is the advertising of companies that market pins to users searching for specific items or experiences.

The company was founded by CEO Ben Silbermann and chief product manager Evan Sharp in 2010.


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