Image sharing site Pinterest files for IPO


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Image sharing site Pinterest files for IPO

Pinterest Inc. owner of the image search website largely known for the fashion and food related photos that the users share, had filed for an IPO (initial public offerings) with US regulators on Friday, the 22nd of March 2019.

A fresh news of Pinterest IPO filing came forth after a day the San Francisco based jeans maker Levi Strauss & Co. had made a blockbuster return into public after remaining as a family owned company for 34 years.

Besides, smaller Uber rival Lyft Inc. has been set for an IPO debut later on March and Uber would apparently be taking part on the most attractive IPO of 2019 at the first week of next month. Pinterest had been planning to list under a symbol “PINS” in the New York Stock Exchange and it had set up a placeholder amount of $100 million for an estimation of the size of its IPO.

However, the company said that the final size might have changed. Earlier on January 2019, a press report had revealed that the image sharing site would seem to raise around $1.5 billion and IPO might take place during the first half of 2019.

Pinterest Inc. was valued around $12 billion during its fundraising round of 2017.