Pinterest, the nearly ten-year-old visual search engine, unveiled its S-1 as it prepares for an IPO in April.
With a value of $ 12.3 billion in 2017, Pinterest received its first official name before the IPO of 2019 two months ago, setting of Goldman Sachs and JPMorgan Chase as the leading underwriters for his offer on the NYSE. Now the financial figures are considered more closely.
The San Francisco-based company, which trades under the ticker symbol "PINS," generated $ 755.9 million in revenue as of December 31
Overall, Pinterest has posted sales of $ 1.525 billion since 2016, listing both investors and early-stage investors in the cap chart. Key stakeholders include Bessemer Venture Partners, FirstMark Capital, Andreessen Horowitz, Fidelity and Valiant Capital Partners, although the application does not list the percentage of these companies.
Every month, Pinterest counts more than 250 million active users, generating 2018 ad revenue of approximately $ 700 million, an increase of 50 percent over the previous year. The company employs 1,600 people in 13 cities, including Chicago, London, Paris, São Paulo, Berlin and Tokyo. By signing up, Pinterest has signed a lease for a brand new headquarters in San Francisco, which is being built near its current headquarters.
The Company's worldwide average revenue per user (ARPU) as of December 31, 2018 was $ 3.14. by 25 percent year on year. Meanwhile, its US ARPU was $ 9.04, an increase of 47 percent over the previous year.
Pinterest was created in 2010 as a busy social media startup and mobile app designed to share inspirational images and quotes. Under the leadership of co-founder and chief executive officer Ben Silbermann, over the years it has grown to monetize the platform that relies on advertising revenue to stay afloat. Last fall, the company rebuilt the infrastructure behind the product pins to turn more users into shoppers (and compete with Instagram). The update brought the app up-to-date pricing and inventory information on all product pins, links to retailers, a new category "products like these" among fashion and home decor pins, and other user-friendly settings.
Pinterest's IPO papers appeared only a few hours after another tech unicorn, Zoom, went public. Several billion dollar tech companies decided to go public in 2019, even after the government stalemate had led to a significant delay in bids for a week. Pinterest succeeds Lyft, which revealed its S-1 and 2018 nearly $ 1 billion in losses just three weeks ago. Uber and Slack are expected to soon make their IPO documentation available to the public.
Pinterest could benefit from the Uber and Lyft IPO 2019 hype, although The Information had previously reported that its offer could suffer as it was a social media company what is often the case Compared to Facebook and Twitter, two companies have repeatedly expressed concerns about users' privacy.
We still have to wait a few weeks to better understand the demand from Wall Street to Pinterest. If it's something like Lyf's IPO, which is already oversubscribed, it'll be good for the company.
This story is being updated.