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By Joshua Franklin and Carl O Donnell
(Reuters) – Pinterest, owner of the popular image search site for fashion and food photos published by its users, has hired Goldman Sachs Group Inc and JPMorgan Chase & Co to lead its initial public offering (IPO) more late this year, familiar with the topic said Tuesday.
Preparations for Pinterest's IPO come at a time when social media companies such as Facebook Inc Twitter Inc. are under fire by politicians for concerns about confidentiality and political bias. challenges avoided by Pinterest.
Pinterest could collect about $ 1.5 billion (about £ 1.1 billion) during its IPO, which is expected to take place in the first six months of 2019, sources said, asking for the "best price". anonymity to discuss planning arrangements.
Pinterest, Goldman Sachs and JPMorgan declined to comment.
Pinterest, which rose to $ 12 billion in its last round of fundraising in 2017, is part of a host of technology startups offering multi-billion IPO-ready consumer brands in 2019, including Uber , Lyft, AirBnB and Slack.
The San Francisco-based company has grown rapidly since its founding in 2008, with 250 million active users a month last September.
His turnover in 2018 was $ 700 million, or 50% more than the previous year, according to a person familiar with the subject.
Pinterest monetizes its website through advertisements, which it places among the "pins" that users place on the site.
The US Securities and Exchange Commission (SEC) is again able to process and comment on IPO filings, which it was unable to do when the US government closed early of the year.
(Report by Joshua Franklin and Carl O Donnell in New York, edited by Sandra Maler)
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