Pinterest Inc, the owner of the image search website known for the food and fash...
- Pinterest Inc, the owner of the image search website known for the food and fashion photos that its users post, filed for an initial public offering with U.S. regulators on Friday, looking to tap into a red-hot market for new stock offerings.
The filing comes a day after jeans maker Levi Strauss & Co’s blockbuster debut, and ride-hailing service providers Lyft Inc and Uber are set to pursue much-anticipated listings. Investors are anticipating 2019 may be one of the most active years ever for tech IPOs. Reuters reported in January Pinterest could raise around $1.5 billion and that the IPO was likely to come in the first six months of 2019.The San Francisco-based company has grown rapidly since its founding in 2008, boasting in the regulatory filing that it reaches more than 250 million monthly active users, two thirds of whom are female.
Like Lyft, Pinterest plans to go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-Founder, President and Chief Executive Officer Benjamin Silbermann.
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