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Tuesday 20th March 2018

Pinterest Unveils its IPO Project

Business

7Dnews London

Fri, 22 Mar 2019 23:27 GMT

Pinterest, the internet-based photo sharing application, which boasts 250 million users, unveiled Friday its intention to enter the stock market, reports Reuters.

The company has not yet provided any details on the number of shares it intends to put into circulation or on the target sale price but has indicated that the security will be listed on the New York Stock Exchange.

In the documents, Pinterest indicates that it generated revenues of $755.9 million for its 2018 fiscal year closed in December, which is just under double the amount of 2017 and generated a net loss of almost $68 million.

Pinterest plays on two levers: Online commerce and advertising. For example, the company launched in February 2017 a tool that allows you to click individually on some of the objects, furniture, clothing or accessories appearing in a photo published on the application.

The user obtains recommendations for similar items that can be purchased directly from Pinterest, or from a brand.

Pinterest, at the crossroads of the social network and the search engine, is used by many brands who put pictures of their products in an attempt to attract customers. Since 2015, it is possible to add to the application a "buy" button.


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