Pinterest files to go public

Pinterest is among the longest-lived of Silicon Valley’s unicorns- startups with a valuation of more than $1bn- that are lining up to go public this year or soon after

Pinterest files to go public

Uber Technologies Inc., the San Francisco-based ride-hailing firm, has made it to the headlines for its decision to be listed on the iconic New York Stock Exchange (NYSE) for the firm's imminent IPO (Initial Public Offering), which is said to be one of the five greatest listings of all time. The final size will change.

The share sale will be led by banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Allen & Co., according to the filing with the U.S. Securities and Exchange Commission.

The tech and app-driven companies that are pursuing plans to go public include Airbnb, according to people familiar with the company's plans.

Pinterest, a social media application that shares images founded in 2010, is planning to launch its IPO as early as April.

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Pinterest revealed that it has 250 million users and growing revenues. It also said it has grown quickly in worldwide markets by localizing content. The company generated a net loss of $63 million past year. In 2018, the company had revenues of $755.9 million, up from $472.9 million in 2017.

The San Francisco-based company had revenue of $756 million previous year, a 60 percent bump from 2017. That includes 43 percent of internet users in the USA, it said, citing an independent study by Comscore. Uber's valuation - likely the biggest in a year packed with Silicon Valley IPOs - could reach $120 billion, while Pinterest was last valued at around $12 billion.

Lyft Inc.'s IPO, in which it is seeking to raise $2.1 billion, is set for March 28.

However, Pinterest said Class B shares will automatically convert into common shares seven years after the IPO. Food delivery company Postmates and Slack Technologies are among those considering listings this year.

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