Pinterest looks to raise $1.5-billion in IPO - TechCentral

Pinterest looks to raise $1.5-billion in IPO

Pinterest plans to raise about US$1.5-billion dollars in its initial public offering of shares.

The digital scrapbooking site said in a regulatory filing that it will put about 86.3 million shares up for sale at a price between $15 and $17 each.

It is offering 75 million class A shares.

Pinterest claims more than 250 million active monthly users and more than two billion monthly searches.

The platform allows people to search for and “pin” images that interest them, whether it is fashion, sport, pets or travel.

The San Francisco company had revenue of $756-million last year, a 60% bump from 2017.

Pinterest’s stock will list on the New York Stock Exchange under the PINS ticker symbol.

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