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Pinterest Visual Search Engine has joined a long list of high-tech companies wishing to go public in 2019. The company has confidentially submitted documents to the Securities and Exchange Commission for an initial public offering of savings planned for the end of the year. Year, according to a report from the Wall Street Journal.
Pinterest declined to comment.
Founded in 2008 by Ben Silbermann, previous reports indicated that the company planned to make its IPO in April. At the end of January, Pinterest reached an official milestone for its IPO in 2019, hiring Goldman Sachs and JPMorgan Chase as principal underwriters for its offering.
The company realized a valuation of $ 12.3 billion in 2017 with financing of $ 150 million.
With 250 million active users per month, Pinterest has raised nearly $ 1.5 billion in venture capital from leading partners Bessemer Venture Partners, Andreessen Horowitz, FirstMark Capital, Fidelity and SV Angel. The company has generated advertising revenue of about $ 700 million in 2018, an increase of 50% over the previous year.
Pinterest employs 1,600 people in 13 cities, including Chicago, London, Paris, São Paulo, Berlin and Tokyo. The company says that half of its users live outside the United States.
Pinterest will probably follow Lyft, Uber and Slack to the public markets, which have all filed confidential documents for IPOs or, in the case of Slack, a direct list reported, expected in the coming months.
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