Pinterest have officially filed S-1 for their IPO, submitting their filings to Securities and Exchange Commission on March 22nd, which means that the upcoming IPO from this prominent social network should be out in public any time now.
It is expected to see the IPO already out in April, but what is certain is that Pinterest is aiming at going public already in the first half of 2019.
Even though the filing has been made official on March 22nd, the number of shares that are to be issued by the company, as well as the estimated price per share, is still being kept confidential at this point.
What You Need to Know About the Upcoming Pinterest IPO
As Pinterest filing for IPO has been made official, the company should commence with public trading any time now, while the company’s estimates are set at around 12 billion dollars based on previous funding rounds.
In the meanwhile, the company didn’t state the amount they expect to raise from the upcoming IPO, also keeping the share price confidential. Pinterest also insisted upon filing their IPO that the company shouldn’t be categorized a social network company as their main competitors are actually consumer internet companies, advertisers and media companies, while the company is not competing against Facebook that went public back in 2014 with estimates set at 104 billion dollars.
The company considers that Pinterest a productivity tool and a media-rich utility, rather than categorizing the company within the social media industry, adding that Pinterest recorded 750 million dollars in revenue during 2018, also confirming 250 million monthly users and lowered losses set at 63 million dollars for 2018.
Even though the company itself is still developing an effective business strategy that is definitely inclined towards advertising of different brands and products, Pinterest is said to be unable to create strong revenues, however, Pinterest IPO may be a good chance for the company to recollect and come up with an effective business strategy, already valued at 12 billion dollars.