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.
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