Pinterest Inc has confidentially filed for an Initial Public Offering (IPO) and expected to seek a valuation of at least $12 billion.
Pinterest is the largest online social media platform where a user shares and discover information on the web and mobile, mainly using images and, on a smaller scale, GIFs and videos.
On Thursday, The Wall Street Journal reported Pinterest has confidentially filed paperwork with the securities and exchange commission for an initial public offering that is expected to value the company, which operates a platform for online-image searches, at $12 billion or more as it joins a parade of hot tech start-ups planning share debuts in 2019.
The company, which was valued at $12 billion in its last fundraising round in 2017, is among a host of technology start-ups with popular consumer brands gearing up for multi-billion IPOs in 2019, including Uber, Lyft, Airbnb and Slack. Pinterest has around 250 million active users per month and make $700 million in revenue this year and aiming for an IPO in 2019 with $13-$15 billion valuations.
Some interesting facts about Pinterest, 93% of active pinners said they use Pinterest to plan for purchases and 87% said they’ve purchased something because of Pinterest and two-thirds of pins represent brands and products.
As far as Social Apps Go, Pinterest still lags its major competitors when it comes to user numbers. Facebook sees 1.4 billion daily active users (1.2 billion of which are outside the US), and Instagram hit 1 billion monthly active users in June. Twitter may be the closest to Pinterest in MAUs, reporting 335 million monthly active users in July.
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