Pinterest offers $15-$17 per share in IPO, Values below than $12 billion
Social media platform Pinterest Inc set a price range of $15 to $17 per share for its IPO valuing it below than the $12 billion at which the company raises the last funding in 2017.
Pinterest offers 75 million shares through its IPO. After this proposal, the company valuation will be at $10.6B vs previous valuation of $12.3B
Earlier, Reuters had reported that Image search social media platform Pinterest list itself on the New York Stock Exchange under the symbol “PINS”.
The company, which owns the image search website known for the food and fashion photos that its users post, reported annual revenue of $755.9 million in 2018, up 60 percent from a year earlier.
But it remains unprofitable even though its net loss narrowed to $62.97 million in 2018 from $130 million a year earl...