Pinterest announces successful IPO

Published on: 18-Apr-2019
Category: Trading
Last updated: 18-Apr-2019

Pinterest announces successful IPO

The photo platform Pinterest goes public today, on 18.04.2019, and can look forward to an active participation in the purchase of its shares. The company makes its debut on the New York Stock Exchange (NYSE) and even has a price of $ 19. The shares that have the abbreviation "PINS" should originally be in the price range between $ 15 and $ 17, which now outperforms Pinterest by $ 2. A total of 75 million shares were issued, giving Pinterest a revenue of $ 1.43 billion (1.27 billion euros).

Founded in 2010, the photo platform has more than 250 million users worldwide and is now listed on the stock exchange with an overall valuation of over $ 10 billion. This makes it the next start-up that dares to go public in the US with billions of dollars. The share price achieved is due to the interest of investors who want to participate in the growth of Pinterest. The company increased its annual revenue to $ 750 million, up 60 percent. Even if it goes to the stock market as a highly rated start-up, it is still in the red. Thus, Pinterest could reduce the loss of 130 million by almost half to 63 million dollars and with a turnover of 756 million dollars.

Pinterest is a social network and a search engine for images. The users can find ideas, pictures, instructions and much more and then save. They pin it like a pinboard. According to the company, 175 billion "pins" were stored on the platform in 2018, on 4 billion "boards". Pinterest is financed by ads that are shown to users in the form of paid "pins".



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