Pinterest sets IPO at $19
Pinterest announced it will price its IPO at $19 per share.
- The company is expected to start trading Thursday, April 18, 2019 on the New York Stock Exchange.
- The $19 per share price would value the company at about $10 billion, according to reports.
- Pinterest is an image sharing platform that lets users “pin” interesting images.
- The company makes money by selling advertising within its platforms, including “promoted pins.”
- Pinterest is not yet profitable, though it has narrowed its losses to $63 million.
- Revenue has grown to around $756 million.
- The $19 price is higher than many analysts had expected.
- The IPO follows the Lyft IPO in March which has since lost nearly 20 percent of its value.