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Pinterest has confidentially launched an initial public offering and would have asked for a valuation of at least $ 12 billion, a report said Thursday. Pinterest's IPO projects are joining a growing number of leading companies that are expected to be released this year.
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The company is working with Goldman Sachs and JPMorgan Chase on the IPO and plans to go public in June, depending on market conditions, according to a Wall Street Journal report.
Pinterest, which was launched in 2010, generates revenue through ads on its site. Revenues exceeded $ 700 million in 2018, up 50% from the previous year, the Journal reported.
In September, Pinterest exceeded 250 million active users per month. Pinterest users browse the social media site to post photos and images shared on a wide range of topics.
Other IPO plans
The revelation of Pinterest's IPO comes a day after the announcement of Lyft's announcement of an initial public offering. Lyft plans to launch an informative roadshow for institutional investors during the week of March 18.
The Lyft IPO is expected to be the first IPO of a US company. Uber Technologies, Lyft's much larger rival, plans to launch an initial public offering later this year.
Slack Technologies is another company that is expected to go public this year. She announced at the beginning of this month her intention to continue her IPO that could take place mid-year. Other potential IPOs for 2019 include Palantir Technologies and Airbnb.
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