Pinterest Prices IPO at USD 19 per share

Pinterest, Inc. (NYSE: PINS) announced on Wednesday that it will list its Class A common stock at a price to the public of USD 19 per share, valuing the Company at USD 10 Billion.

Pinterest originally expected shares to list at USD 15 to USD 17 per share. Even with the higher-than-expected IPO pricing, Pinterest is still below the USD 12 Billion valuation it received after a financing round back in 2017.

Following Pinterest IPO launch on Thursday, shares jumped up to USD 23.20 per share, gaining 22.11%. The stock was trading over 20 million in volume shortly after its IPO launch.

Last year, Pinterest reported that revenue jumped by 60% year-over-year to USD 756 Million. The stronger revenue allowed the Company to shave off some of its debt, but still Pinterest reported a net loss of USD 63 Million. However, Pinterest still maintains a large monthly user base of 265 million users.

Pinterest is one of the big tech IPOs expected to launch this year. Lyft (NASDAQ: LYFT) launched its IPO in late March, but its shares have been struggling to keep up with its IPO value. Other large tech companies expected to IPO this year include Zoom, a video-conferencing platform, and Uber Technologies.

Pinterest said it is expected to offer 75 million shares of its Class A common stock, plus up to an additional 11.25 million shares that the underwrites have an option to purchase.

Pinterest is trading on the New York Stock Exchange under the ticker “PINS”.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Allen & Company LLC are serving as lead joint book-running managers for the offering. BofA Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and RBC Capital Markets, LLC. are also acting as book-running managers for the offering. Robert W. Baird & Co. Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC are serving as co-managers for the offering, according to Pinterest’s press release.

3 Comments
  1. David Cohen 1 month ago
    Reply

    Unlike most social networks Youtube and Pinterest $PINS are really useful and educational. Best thing about Pinterest very specialized, no politics or other useless BS

    • Daniel Borough 1 month ago
      Reply

      If $pins is worth 12 billion, $twtr has gotta be worth around 50 billion, right??

  2. Ross Gerber 1 month ago
    Reply

    Pinterest $12 bil for $750 mil in revenue. I like pinterest more as a company but a money loser that seems to have lost some momentum in the last few years. $PINS #IPO

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