Pinterest (PINS) to Raise $1.2 Billion in IPO

Pinterest (PINS) expects to raise $1.2 billion in an initial public offering (IPO) on Thursday, April 18th, IPO Scoop reports. The company will be issuing 75,000,000 shares at $15.00-$17.00 per share.

In the last twelve months, Pinterest generated $755.9 million in revenue and had a net loss of $63 million. The company has a market cap of $8.5 billion.

Goldman Sachs, J.P. Morgan and Allen & Company acted as the underwriters for the IPO and BofA Merrill Lynch, Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, RBC Capital Markets, Baird, UBS Investment Bank and Wells Fargo Securities were co-managers.

Pinterest provided the following description of their company for its IPO: ”  Pinterest is where more than 250 million people around the world go to get inspiration for their lives. They come to discover ideas for just about anything you can imagine: daily activities like cooking dinner or deciding what to wear, major commitments like remodeling a house or training for a marathon, ongoing passions like fly fishing or fashion and milestone events like planning a wedding or a dream vacation. We call these people Pinners. We show them visual recommendations, which we call Pins, based on their personal taste and interests. They then save and organize these recommendations into collections, called boards. Browsing and saving visual ideas on our service helps Pinners imagine what their future could look like, which helps them go from inspiration to reality. “.

Pinterest was founded in 2008 and has 1797 employees. The company is located at 505 Brannan Street, San Francisco, CA 94107, US and can be reached via phone at (415) 762-7100.

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