Pinterest wants to raise $1.5B in IPO
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.
Pinterest claims more than 250 million active monthly users and more than 2 billion monthly searches.
Article continues after this advertisementThe platform allows people to search for and “pin” images that interest them, whether it’s fashion, sports, pets or travel.
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