Pinterest is all set for its IPO, and reportedly, this San Francisco based photo sharing website owner has hired Goldman Sachs and JPMorgan Chase as its lead underwriters for the same. The company has been in the business, since almost 11 years, and has become a well known visual search site where people post and share pictures related to different sorts including fashion, beauty, lifestyle, wedding etc.
According to Reuters, the company has indicated that the company may raise $1.5 billion in the IP0, and it may go public in the first half of the year. According to the people with the awareness on the subject, said that in 2017, Pinterest raised $150 million in secret funding round and was valued at $12.3 billion, at the same share prices.
Pinterest, a social media website, with a unique concept, has grown very well since its inception, and currently, has more than a 250 million monthly active users. Last year, the company valued between $12 billion and $13 billion and reported annual revenue of $700 million, which was 50 per cent more than the revenue it gained in 2017. The main reason behind the success of this platform, according to one of its investor is that “there are no Russian trolls” on Pinterest, and also, there have been no cases in which Pinterest have ever sold its users’ data.
Pinterest is like a bulletin board and used to bookmark and pin things the users want to track onto it. The boards are categorized based on different topics. But the site is just not a photo sharing website, as it also allows people to sell goods on the platforms. The user can also shop for things through their mobiles, by holding and clicking on the desired product.
Although the timing for the IPO is not the best as its contemporary companies, including Facebook and Twitter, are going through serious user privacy breach allegations, put by the politicians. But as Pinterest has always been away from such matters it may not affect its IPO.
Notably, along with Goldman Sachs, Pinterest’s IPO is backed by many other investment firms, including Valiant Capital Partners, Wellington Management, Andreessen Horowitz and Bessemer Venture Partners.
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.