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Pinterest has hired Goldman Sachs and JPMorgan Chase to comment on the long-awaited initial public offering of the social media company, according to people in the know.
The online scrapbooking platform, known for a greedy user base that publishes decorating, food and wedding photos, could bring in more than a billion dollars, the population said. Pinterest was valued at more than $ 12 billion during its last funding in June 2017.
Wall Street bankers have offered their services for a number of high-level operations, including offers from Uber and Lyft mobile phone applications. Some startups, such as Slack, are exploring the possibility of directly listing their shares, thus bypbading the traditional IPO process.
The news, reported for the first time by Reuters, comes as other social media companies, such as Facebook and Twitter, face growing concerns over privacy, security, and misinformation – for which Pinterest is largely concerned. part avoided any negative attention.
According to estimates by the research firm eMarketer, Pinterest is expected to generate advertising revenue in the United States of more than $ 1 billion in 2020, against $ 553 million in 2018. However, it represents only a small portion of the market digital advertising, dominated by the likes of Google and Facebook.
Goldman Sachs, JPMorgan and Pinterest declined to comment.
The IPO activity, which is expected to increase significantly in 2019, has dried up early in the year after the closure of the US government that paralyzed securities regulators. Several thousand employees dismissed from the Securities and Exchange Commission have since returned to work, but the threat of a second potential shutdown hangs over new listings.
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