Pinterest sets terms for $1.2 billion IPO valuing platform at $10.6 billion
Pinterest, which operates a pinboard-style social photo sharing platform, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $1.2 billion by offering 75 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Pinterest would command a fully diluted market value of $10.6 billion.
Pinterest was founded in 2010 and booked $756 million in sales for the 12 months ended December 31, 2018. It plans to list on the NYSE under the symbol PINS. Goldman Sachs, J.P. Morgan, Allen & Company, BofA Merrill Lynch, Barclays, Citi, Credit Suisse, Deutsche Bank and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of April 15, 2019.
The article Pinterest sets terms for $1.2 billion IPO valuing platform at $10.6 billion originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Latest IPOs Videos
- US IPO Week Ahead: The IPO market braces for a September SNOWstorm in a 14 IPO week
- The SNOWstorm gets bigger: Snowflake increases range to $100 to $110 ahead of $2.9 billion IPO
- Let it SNOW: Data unicorn Snowflake prices $3.4 billion IPO above the range at $120 in largest software listing ever
- Altimeter Capital's tech SPAC Altimeter Growth Corp. files for a $450 million IPO