Pinterest, which operates a pinboard-style social photo sharing platform, announced terms for its IPO on Monday.
The San Francisco, CA-based company plans to raise $1.2 billion by offering 75 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Pinterest would command a fully diluted market value of $10.6 billion.
Pinterest was founded in 2010 and booked $756 million in sales for the 12 months ended December 31, 2018. It plans to list on the NYSE under the symbol PINS. Goldman Sachs, J.P. Morgan, Allen & Company, BofA Merrill Lynch, Barclays, Citi, Credit Suisse, Deutsche Bank and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of April 15, 2019.
