Pinterest sets its IPO price range of $ 15 to $ 17
Pinterest looks at a valuation of up to $ 9 billion when it debuts on public exchanges later this spring.
It is somewhat of a discount from the company's recent valuation on the private markets, but still holds Pinterest in the same neighborhood that other big tech companies put on IPO in 2019.
The image-sharing social network said in a regulatory filing on Monday that it would sell 75 million shares at $ 15 to $ 17 per share, and at the top end of its target range, the company could raise $ 1[ads1].3 billion in net
Lift was the first out of the gates in a heavyweight class of technological IPOs, raising $ 2.3 billion in its Uber, Slack, and Postmates, all of whom have signed up to become public this year.
Pinterest Valued at $ 12 billion in its last round of fundraising in 2017. CNBC reported last year's $ 1 billion in advertising revenue.
The company reported $ 756 million in 2018 revenue in its first IPO prospect, revenue growing 60% year-on-year ver, but still made for a net loss of $ 63 million.
Pinterest will list under the symbol "PINS" on the New York Stock Exchange. The company will be announced with a two-tier share structure to concentrate its voting power with A shareholders, which includes co-founder and CEO Benjamin Silbermann.
– Travelers contributed to this report.
