PRESS RELEASE: Pinterest is Fixated on a 1.3 Billion Euros IPO Target

PRESS RELEASE: Pinterest is Fixated on a 1.3 Billion Euros IPO Target
April 9, 2019
PRESS RELEASE: How Coinbase-Backed Dharma Aims to Stand Out From Other Crypto Lenders
April 9, 2019

Several tech companies plan to go public this year and Pinterest is among them. The company hopes to raise a staggering 1.5 billion dollars (€1.33bn) in its IPO. The digital scrapbooking site explained in a regulatory filing that it intends to put approximately 75 million shares up for sale. The price of the shares at the initial offering ranges from 15 dollars (€13.30) to 17 dollars (€15.15).

On the higher end of the price of these shares, the company’s value may hover around 9 billion dollars (€8bn). That figure is significantly below the estimated 12 billion dollars (€10.6bn) value obtained from the earlier sales of shares to investors two years ago. This year, tech companies IPOs have dominated the headlines.

The resounding arrival of Lyft late in March never answered most questions about how best to value tech firms. The confusion about valuing arises since most of the companies have huge potential but have not yet realized enticing profits. Uber, Slack , and Zoom are the other tech entities expected to float their IPOs soon.

The Numbers

Pinterest records around 250 million active users on a monthly basis with at least 2 billion monthly searches. The platform lets people search for and even “pin” images that interest them. Images range from sport, travel, fashion, pets, and many others. The site has long shunned any labels of its being a social network.

The platform never pushes users to build connections or add friends. Hence, it avoids the privacy tangles trapping social media companies like Facebook . Its revenue comes when businesses promote pins in users’ feeds. In 2018, Pinterest reported revenue of 756 million dollars (€673m) representing a 60% surge from the 2017 data.

The company had a loss of 63 million dollars (€56m) last year compared to a 130 million dollars (€115m) loss the previous year. Founded by Ben Silbermann and Evan Sharp in 2010, the company has grown leaps and bounds.

This company is currently working on developing its artificial intelligence search. That will let users take a photo or upload screenshots of an item and get similar products on the site. Pinterest’s stock will list on the NYSE under the PINS ticker symbol. The company will have more cash flow to channel into various programs that will see it explode when its artificial intelligence becomes a success.

Like what you’re reading? Subscribe to our top stories

The post Pinterest is Fixated on a 1.3 Billion Euros IPO Target appeared first on FXTimes.com – Daily Cryptocurrency and FX News .

This is a syndicated post from https://www.cryptovibes.com/analysis/pinterest-is-fixated-on-a-1-3-billion-euros-ipo-target/

Comments are closed.