Pinterest files for IPO after earning $750 million in 2018 revenue
The social media app officially files for an IPO after increasing revenue last year.
One of the most eagerly awaited 2019 initial public offerings (IPO’s) is coming to Wall Street in 2019. Pinterest officially filed for an IPO with the US Securities Exchange Commission (SEC).
How did Pinterest increase revenue in 2018?
Pinterest earned 60% more revenue over the past year, $750 million in 2018. Though the social media app hasn’t made a profit, Pinterest increased revenue by partnering with corporations that visitors may search for in order to increase sales for the corporation and for Pinterest. Pinterest users or ‘pinners’ can pin an picture of an item they like, then click and purchase the item. That feature has likely helped drive up Pinterest’s profits.
How is Pinterest different from other unicorn IPO's?
While Pinterest is primarily thought of as a social media app like Facebook, Pinterest says it is a combination of social media app, e-commerce site like Amazon, and a search engine like Google. Pinterest users often search for items on the site similar to looking on a search engine.
‘We primarily compete with consumer internet companies that are either tools (search, e-commerce) or media (newsfeeds, video, social networks),’ said Pinterest in its IPO filing.
‘In this way, Pinterest is unique. Most consumer internet companies are either tools (search, ecommerce) or media (newsfeeds, video, social networks). Pinterest is not a pure media channel, nor is it a pure utility. It’s a media-rich utility that satisfies both emotional and functional needs by solving a widespread consumer problem that is unaddressed by many other platforms. We call it discovery,’ continued Pinterest.
What’s next for Pinterest’s IPO?
Pinterest has yet to reveal how much shares will be sold for in its IPO filing. Underwriters for the IPO include Goldman Sachs and JPMorganChase. The IPO will be listed in the New York Stock Exchange under ‘PINS.’
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Act on stock opportunities today
Go long or short on thousands of international stocks with CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
