//Pinterest files for IPOs will be listed on the New York Stock Exchange under the name "PINS"
pinterest files for ipos will be listed on the new york stock exchange under the name pins - Pinterest files for IPOs will be listed on the New York Stock Exchange under the name "PINS"

Pinterest files for IPOs will be listed on the New York Stock Exchange under the name "PINS"

 

 

Pinterest filed for an initial public offering on Friday afternoon, joining the frenzy of large technological IPOs in 2019 and offering a window on its finances.

The 9-year old platform, on which users "pin" and organize images as they surf the web, shop and browse the "digital tables" of others users, said Friday in a statement from the SEC more than 250 million monthly active users. In the United States, 80% of women with children between the ages of 18 and 64 use Pinterest, according to Comscore. Pinterest will be listed on the New York Stock Exchange under the code "PINS".

The San Francisco-based company generated more than $ 755 million in revenue in 2018, an increase of 60% over the previous year, and recorded a net loss of $ 63 million in 2018, compared to a net loss of $ 130 million in 2017.

Pinterest's main argument for potential shareholders is its value as a means of advertising on which users often search for a product. .

"To inspire your home, your style or your journey often means that you are actively looking for products and services to buy," reads the file. "Billions of searches are done on Pinterest every month. In the United States, more people use Pinterest to search or buy products on social networks, according to a Cowen and Company survey. "

Earlier this month, Pinterest published a number of e-commerce products to make the site attractive to brands seeking to advertise and sell their products These moves place Pinterest in direct competition with Instagram, which also introduced more buying features and this week launched a beta release allowing customers to buy the products of certain brands in within the application.

Pinterest stated that while it was still in its early stages of monetizing the platform, it had identified more growth opportunities for advertisers, including building more products to improve performance measurement and diversifying its advertiser base. Interest wrote that "almost all" of its revenues comes from advertising on the site and that a "substantial part" of its revenues comes from a small group of advertisers, many of whom are consumer and retail goods. brands. Pinterest hopes to increase its presence in the media and entertainment sectors, travel, automotive, technology and financial services, he added.

As usual in the filing of an IPO, Pinterest pointed to a number of factors that could hinder its success. One of the reasons is that although the company is popular among women in the United States, the company said it could still grow among male and international users. Data privacy policies and changes to the web browser's web tracking capabilities could also negatively impact the company's business, as well as unexpected changes from other large technology companies, including Amazon, Apple, Facebook and Google –

Bloomberg reported in February that the company was seeking a valuation of at least $ 12 billion after the confidential filing of a report. IPO. The shares could be listed on the New York Stock Exchange as early as April according to Wall Street Journal

Earlier this year, Lyft and Uber launched the IPO process. Earlier in the day, the Zoom Internet video conferencing system also called for an initial public offering of savings.