The social media company could make its initial public offering (IPO) filing public on Friday and go public on the New York Stock Exchange in April, The Wall Street Journal is reporting, citing people who claim to have knowledge of its plans. The company could go public by as early as mid-April, though the timeline is subject to change, the Wall Street Journal reported.
A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2017. Sources added that Uber would need to float only about 16 percent of its shares in order to be included in the top five, provided the company reaches the big valuation.
Pinterest revealed that it has 250 million users and growing revenues. Its larger ride-sharing rival, Uber Technologies Inc., is expected to submit its public filing next month for an IPO that could value it at as much as $120 billion, people familiar with the matter have said.
Pinterest, which owns the image search website known for food and fashion photos, was valued at $12 billion in its last fundraising round in 2017.
In the fourth quarter, the company generated a profit of $47 million on revenue of $273 million.
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The company had a 2018 net loss of $63M, down from the $130M loss in 2017, on revenue of $755.9M, up from $472.9M.
The company is among a host of technology startups, including Uber, Lyft, AirBnB and Slack, gearing up for multi-billion IPOs in 2019.
A representative for San Francisco-based Pinterest declined to comment.
NASDAQ did score the IPO of ride hailing firm Lyft Inc, which could reach or exceed a $23 billion valuation when it prices its shares March 28.