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- Pinterest, the social media site for "pinning" images and shopping, has publicly filed to go public in an IPO that could take place as soon as April.
- The company will list on the New York Stock Exchange under the ticker symbol "PINS," according to its S-1.
- Pinterest brought in $755.9 million in revenue in 2018 but saw a net loss of $63 million.
Pinterest, the social media site for "pinning" images and shopping, filed a public S-1 on Friday in preparation for an IPO that could take place as soon as April.
The company will list on the New York Stock Exchange under the ticker symbol "PINS," according to its S-1. Goldman Sachs, JPMorgan and Allen & Company will lead the IPO.
Though frequently compared to the cohort of social media sites including Facebook, Twitter and Instagram, Pinterest characterized itself in the S-1 as a place to "discover ideas" and focused on its identity as a place for "search", "dreaming" and "productivity."
The company brought in $755.9 million in revenue for 2018, up 60% from $472.9 million in 2017. But the company is still losing money. It had a net loss of $63 million in 2018, compared to a loss of $130 million in 2017.
The company also revealed statistics about its userbase — called "pinners" — which it said includes "eight out of 10 moms." The company said it has 250 million monthly active users, two-thirds of whom are women. In the US, that includes 43% of all internet users, the company said citing Comscore data.
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Source: Business Insider – bpeterson@businessinsider.com (Becky Peterson)