As the trend of tech IPOs hitting the market is continuing from 2018 IPO boom to 2019 as well, investors are in anticipation of numerous promising tech companies with upcoming public offerings.
Pinterest is one of such companies, announcing the share price and estimated IPO target back on Monday, April 8th, 2019, as the company is getting ready to go live and officially present their public offer.
Despite the fact that Pinterest is one of the rare tech companies filing for IPO that has previously earned attention from venture capital firms, the social media player focused on visuals and advertising have cut their initial estimate of 12.3 billion dollars as suggested back in 2017 when the company was making plans for going public.
Pinterest IPO 2019: Revenue, Losses, Investors, Evaluation, and Share Price
Pinterest agreed on a share price between 15$ and 17$ per share for the start of their initial public offer, which means that the company is aiming at raising 1.2 billion dollars with their initial sale, in addition to having a market cap of 8.5 billion dollars based on the mentioned evaluation.
Pinterest also reported 63 million dollars in losses for the full-year report for 2018, while the fourth quarter net income is set at 47 million dollars.
Earlier in 2017 when Pinterest was only considering filing for IPO, the company set their estimates at 12.3 billion dollars, however, Pinterest will be another company expecting to go live that has its estimates cut, much like Uber is cutting their estimated value from 120 billion to 100 billion dollars.
Pinterest already managed to raise 1.5 billion dollars through private venture capital rounds, additionally expecting to raise 1.2 billion dollars through their IPO, agreeing to issue 75 million A class shares at the price between 15$ and 17$ per share.
Pinterest is counting 73 private investors that supported the company by far, reporting over 250 million monthly active users as of 2018, while the average revenue per user stands at 3.14$ for the same period of time.