Uber and Lyft have already announced their initial public offering in 2019. After the IPO, the valuation of Uber could hit $120 billion, and Lyft may value over $30 billion. Following the footsteps of the two, now Pinterest is also about to enter the list of the companies which are planning their IPOs in the coming year.
Pinterest is a visual search engine and shopping tool, which earns money through ads inserted into its stream of ‘pins’. The evaluated revenue of the company for the year 2018 was evaluated to be $1 billion. In the month of September, the platform tracked 250 million monthly users. With 1.5 million businesses on the platform, the company may value at more than $12 billion after it goes public.
Currently, Pinterest is in talks with various banks and is looking for underwriters for its IPO. Also, according to the reports, Pinterest may hire the former Google and Alibaba exec Jane Penner as its head of investor relations.
Ben Silbermann, the CEO of Pinterest had already talked about the company going public in 2019 but had not confirmed the dates. Now if the reports are to be believed, the company will go public as soon as in April 2019.
Pinterest was founded in 2010 and is growing at its own pace following its own niche, way different to its contemporaries, Facebook and Instagram. The company currently is valued at between $13 billion to $15 billion, having 800+ employees. The year 2019 is going to be the year for the IPOs, as companies like Uber and Lyft have already registered for their IPOs in the early December, followed by Slack and Pinterest in the same queue.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.