Pinterest could list in April amid increased IPO activity among US tech firms
The company raised $150 million in a private funding round in 2017 for a total valuation of about $12.3bn
Pinterest has moved up its plans for an initial public offering to next month, according to a person familiar with the matter, adding to a surge of soon-to-list tech-related companies in the US.
The company, which confidentially shared its plans with the Securities and Exchange Commission earlier this year, could submit its public IPO filing as soon as Friday, said the person, who asked not to be identified because the details were private. Pinterest had been planning to go public in June, seeking to raise about $1.5 billion in an IPO valuing it at least $12bn, people familiar with the matter previously said.
A representative for San Francisco-based Pinterest declined to comment.
The image search site, where users post and look for pictures that interest them, was working with Goldman Sachs Group and JPMorgan Chase to lead its listing, people familiar with the matter have said.
The company raised $150 million in a private funding round in 2017 for a total valuation of about $12.3bn. The company’s plan to accelerate its listing and list on the New York Stock Exchange was reported earlier by the Wall Street Journal.
Founded in 2010, 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.
Lyft’s IPO in which it is seeking to raise $2.1bn is set for next week. Its larger ride-sharing rival, Uber Technologies, is expected to submit its public filing next month for an IPO that could value it at as much as $120bn, people familiar with the matter have said.
The tech and app-driven companies that are pursuing plans to go public include Airbnb, according to people familiar with the company’s plans. Food delivery company Postmates and Slack Technologies are among those considering listings this year.
Published: March 22, 2019 10:30 AM