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Pinterest wants to raise $1.5B in IPO

/ 07:31 PM April 08, 2019

NEW YORK — Pinterest plans to raise about $1.5 billion in its initial public offering of shares.

The digital scrapbooking site said in a regulatory filing Monday that it will put about 86.3 million shares up for sale at a price between $15 and $17 each. Pinterest is offering 75 million Class A shares.

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Pinterest claims more than 250 million active monthly users and more than 2 billion monthly searches.

The platform allows people to search for and “pin” images that interest them, whether it’s fashion, sports, pets or travel.

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The San Francisco company had revenue of $756 million last year, a 60 percent bump from 2017.

Pinterest’s stock will list on the New York Stock Exchange under the “PINS” ticker symbol. /ee

TOPICS: IPO, Pinterest, technology news
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