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Some people use Pinterest for interior decoration. Others use it for planning parties. The New York Stock Exchange uses it to win mbadive IPOs.
Seeking an advantage on the upcoming Nasdaq for Pinterest public list, the NYSE posted a giant red banner in February promoting its own Pinterest page, according to the Wall Street Journal.
The banner was a free advertisement for Pinterest, and eventually she managed to seduce the site. Pinterest, which was last worth more than $ 12 billion in 2017, has chosen to join the NYSE at its next IPO, rather than its competitor Nasdaq. The company filed a public S-1 at the end of March and its commercial activity is expected to begin in April.
As the banner began its grand parade, Pinterest eventually chose NYSE because it offered an important marketing package, according to the newspaper.
Nasdaq launched its own battle in the battle for Pinterest. The stock market would have reserved the symbol "PINT" to give itself a length in advance, but it did not work. Instead, Pinterest will use the ticker "PINS" in its next listing on the NYSE.
Free marketing and specialty tickers are just a few of the ways in which the NYSE and Nasdaq have used advantages to rival the frenzy of multi-billion dollar IPOs. According to the newspaper, the two stock exchanges have defined their own rules, from dress codes to places of sale, to please the companies they wish to make public.
Read more:Video Meeting Startup Video Zoom: The Public Publishing Process Is Profitable
Nasdaq, which dominated the IPO market during the late-1990s boom, captured Lyft's business and made it public last week. The Zoom videoconferencing company will also be public later in April.
The NYSE has however won many prestigious registrations expected in the first half. The stock market is expected to make Uber and Slack public, as well as the African e-commerce company Jumia and the PagerDuty computer management company, both of which publicly filed in March.
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