Another day, another IPO in Silicon Valley, just as the prophecy had predicted.
San Francisco, Pinterest, has just filed for a first public offering on Friday, the latest in what is announced as an incredibly busy year of technology companies becoming public in 2019.
About an hour had passed since the last IPO in Silicon Valley. Earlier Friday, Zoom videoconferencing company asked to be made public. Less than a day ago, the cloud service provider quickly began its journey towards an IPO. What I'm saying is that things go from strange to strange in the glorious world capital of technology.
Pinterest said it had 265 million monthly users and, in terms of money, a net loss of $ 63 million. Not being profitable is not a problem for investors looking to Silicon Valley, especially for a company that has a turnover of $ 755.9 million, a 58% jump by compared to last year. The company hopes to raise up to $ 100 million.
From there, you can look forward to Silicon Valley companies such as Uber, Palantir, Airbnb, Slack, Postmates and Instacart that are preparing to go public this year. Lyft has already filed its IPO and is expected to start trading in a few weeks. This means a new generation of millionaires, a housing crisis that worsens and a larger wealth gap for Silicon Valley.
These companies are expected to fuel the next wave of technology start-ups, as many well-recognized and newly-graduated alumni seek investment in their own businesses.
Pinterest had recently made the headlines for blocking all anti-vaccine research while the dangerous anti-vaccine plot was unleashed on rival social networks.
"It's better not to serve these results than to lead people to what looks like a recommendation rabbit," said Ifeoma Ozoma, Pinterest's Public Policy and Social Impact Leader, at The Wall Street Journal. .
The company said it identified several "polluted" search categories, including dangerous medical conspiracies such as anti-vaccines, and quietly canceled the results.
Pinterest said that they expected American and European regulators to adopt laws that hold social networks accountable for stricter content moderation. Just last week, the rapid broadcast of a video of a New Zealand terrorist attack on a mosque sparked a fierce global debate and action on the capabilities and responsibilities of social media for content control. of their websites.