Business

IPO: Pinterest To Go Public, Filing Its S-1 With Fast Revenue Growth

न्यूज़ वर्ल्ड इंडिया | 0
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| March 24 , 2019 , 11:49 IST

Pinterest declared that it would be filling an initial public offering, reporting to stronger user growth internationally and even profit in the fourth quarter. It plans to list its shares soon in April, a person familiar with the matter said.

Certainly, the San Francisco-based company will file with an initial offering size of $100 million, Pinterest could raise about $1.5 billion in an IPO valuing it at $12 billion or more, people familiar with the matter had said. While the proposed terms of the share sale won’t be disclosed until a later filing.

Pinterest wants to be something different. It wants to turn investors away from thinking it is a place where people get dodgy health advice to somewhere that users can “discover ideas for just about anything you can imagine,” according to the SEC filing.

“Visualizing the future helps bring it to life. In this way, Pinterest is unique,” the filing reads. “Most consumer internet companies are either tools (search, e-commerce) or media (newsfeeds, video, social networks). Pinterest is not a pure media channel, nor is it a pure utility.”

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Pinterest also aims to set itself apart when pitching its value to advertisers: “In the United States, more people use Pinterest to find or shop for products than on social networks,” the filing said.