In one of the most anticipated IPOs in recent times, Pinterest – the online image board and scrapbook company – priced its shares at $19 a piece. This offering set the valuation of the company at $12.7 billion.
The shares will begin selling under the ticker symbol of PINS on the New York Stock Exchange.
What is Pinterest?
According to the official website, “Pinterest is a visual discovery engine for finding ideas like recipes, home and style inspiration, and more.”
So, users can browse through the myriad pictures available on the internet and ‘pin’ or bookmark them on various ‘boards’. Then, they can view them later. Further, users can also share images. In short, Pinterest is a web-based bulletin board and social media site. Users can also interact with each other by liking or commenting on each other’s pictures.
Founded by Ben Silbermann, Evan Sharp, and Paul Sciarra, Pinterest is headquartered in San Fransisco, California. It boasts of 250 million active users as on October 2018.