Another day, another Silicon Valley IPO, just as the prophecy foretold.
San Francisco's Pinterest just filed for an initial public offering on Friday , the latest in 2019.
It was about one whole hour since the last Silicon Valley IPO. Earlier on Friday, the video conferencing company Zoom filed to go public. Less than a day earlier, cloud services provider Fastly started their road to IPO. What I say is that things are going to be in the glorious world capital of tech.
Pinterest said it has 265 million monthly users and, as money is concerned, a net loss of $ 63 million. Being unprofitable isn't much of a problem for investors looking at Silicon Valley these days, especially for a company that reported $ 755.9 million in revenue, a 58 percent jump from last year. The company is hoping to raise as much as $ 100 million.
From here, you can look forward to Silicon Valley companies like Uber, Palantir, Airbnb, Slack, Postmates, and Instacart all getting ready to go public this year. Lift it already for filed its IPO and is expected to start trading within weeks. This is a new generation of millionaires, a housing housing crisis, and a wider wealth gap for Silicon Valley.
These companies are expected to fuel the next wave of startups as a bunch of well-credited and newly wealthy alumni look for investments in their own companies.
Pinterest was most recently in the news for blocking all anti-vaccine searches while the dangerous anti-vaccine conspiracy runs wild on rival social networks.
people down what is a recommendation rabbit hole, "Ifeoma Ozoma, Pinterest's public policy and social impact manager, told the Wall Street Journal.
The company said it had identified" polluted "search categories including dangerous medical conspiracies like anti -vaccine content and had quietly killed the results.
Pinterest said they expected US and European regulators to pass laws holding social networks accountable for more strict content moderation. Just last week, the fixed spread of a video of a New Zealand terrorist attack against a mosque prompted by fierce global debate and action about social network's capabilities and responsibilities to control the content on their websites.