- Pinterest, the website for “pinning” images and shopping, has publicly filed to go public in an IPO that could take place as soon as April.
- The company will list on the New York Stock Exchange under the ticker symbol “PINS,” according to its S-1.
- Pinterest generated $US755.9 million in revenue in 2018 but saw a net loss of $US63 million.
Pinterest, the website for “pinning” images and shopping, filed a public S-1 on Friday in preparation for an IPO that could take place as soon as April.
The company will list on the New York Stock Exchange under the ticker symbol “PINS,” according to its S-1. Goldman Sachs, JPMorgan and Allen & Company will lead the IPO.
Though frequently compared to the cohort of social media sites including Facebook, Twitter and Instagram, Pinterest characterised itself in the S-1 as a place to “discover ideas” and focused on its identity as a place for “search”, “dreaming” and “productivity.”
The company generated $US755.9 million in revenue for 2018, up 60% from $US472.9 million in 2017. But the company is still losing money. It had a net loss of $US63 million in 2018, compared to a loss of $US130 million in 2017.
The company also revealed statistics about its userbase – called “pinners” – which it said includes “eight out of 10 mums.” The company said it has 250 million monthly active users, two-thirds of whom are women. In the US, that includes 43% of all internet users, the company said citing Comscore data.
Bessemer Venture Partners, FirstMark, Andreessen Horowitz, Fidelity and Valiant all own more than 5% of Pinterest, though the company didn’t disclose specifics of ownership in the S-1.
The company will list with a dual-class structure in which Class A shares have one vote per share, while Class B shares have 20 votes per share, a voting structure which tends to benefit founders and early shareholders.
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