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Hollis Johnson / Business Insider
Pinterest made a jump in its debut on the NYSE on Thursday as the last unicorn to enter the public market. Shares trade under the PIN code.
The stock was opened at $ 23.75 per share, 25% more than the $ 19 price originally offered by the Visual Bookmark Platform.
Pinterest's IPO price earned it a valuation of $ 10 billion. Although the price of its shares exceeded the range of $ 15 to $ 17 originally set by the company, its valuation was lower than that of its last valuation in the private market, at $ 12.3 billion. Pinterest raised $ 1.4 billion through its IPO.
Read more: Pinterest evaluates IPO at $ 19 per share, giving it $ 10 billion worth – below its $ 12.3 billion private valuation
Becky Peterson, of Business Insider, announced this week that Pinterest and its IPO team had sought to differentiate themselves from social media platforms such as Snap.
Pinterest, based in San Francisco, has "gained momentum in recent years," said Ygal Arounian, a research badyst at Wedbush.
In an email to Markets Insider, Arounian added that, even though Pinterest was generating all of its revenue from advertising, "it plays an important role in the ecommerce ecosystem, as image-based research and commerce continues. to gain importance as a sales channel ".
In a research report released Thursday, Morningstar badyst Ali Mogharabi called Pinterest's name a "very big uncertainty" before its debut, while claiming that it was promising as a business. actor in the global market of digital advertising.
"Although we were not expecting Pinterest that it is replacing the online advertising giants Alphabet and Facebook or the future Amazon, we expect that it will attract a small portion of the digital advertising spend that , in our view, is an addressable market of nearly $ 500 billion, "Mogharabi wrote.
Shares in another technology IPO, Zoom, up 81%, to $ 65, during his Nasdaq debut on Thursday; its shares are traded under the symbol ZM. The videoconferencing company has set the price of its IPO at $ 36, which gives it a valuation of $ 9.2 billion, more than nine times its private valuation.
Read more: Zoom goes up to 81% in its early days
Pinterest's debut Thursday took place three weeks after Lyft, another former technology unicorn, made his debut on the Nasdaq. As a publicly traded company, the performance of the call tracking application has not really inspired investor confidence, as equities have fallen by almost 20% compared to the price of their introductions into stock Exchange.
Uber, Lyft's biggest competitor, is expected to start trading next month. Earlier this month, the group asked to go public, with an expected valuation between 90 and 100 billion dollars.
Visit MarketsInsider.com for more information on Pinterest.
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