Pinterest, among a gaggle of tech companies planning to go public this year, hopes to raise as much as $1.5 billion in its initial offering of shares.
The digital scrapbooking site said in a regulatory filing Monday that it will put about 75 million shares up for sale at a price between $15 and $17 each.
That, at the higher end, could put the value of the company at around $9 billion, below the estimated $12 billion value from earlier sales of shares to investors, according to reports two years ago.
Already, IPOs from tech companies have dominated headlines this year.
The arrival of Lyft late last month did little to diffuse questions about how best to value tech companies with tons of potential, but not much in the way of profits, at least not yet.
While Lyft has bounced back from a sell-off that dropped its shares well below its initial offering price, they remain below the heights reached in the flurry of first-day trading.
Uber, Lyft91裸聊视频檚 rival, the messaging app Slack and the video conferencing company Zoom are expected to make their debut soon.
Pinterest claims more than 250 million active monthly users and more than 2 billion monthly searches.
The platform allows people to search for and 91裸聊视频減in91裸聊视频 images that interest them, whether it91裸聊视频檚 fashion, sports, pets or travel.
Pinterest has long shunned the label of being a social network. It doesn91裸聊视频檛 push users to add friends or build connections. That means it91裸聊视频檚 avoided the privacy tangles that have ensnared companies like Facebook. Pinterest makes advertising revenue when businesses promote pins in users91裸聊视频 feeds.
The San Francisco company had revenue of $756 million last year, a 60 per cent bump from 2017. It had a loss of $63 million in 2018, compared with a loss of $130 million in 2017.
Pinterest was founded in 2010 by Ben Silbermann and Evan Sharp, who are the company91裸聊视频檚 CEO and chief product officer, respectively.
The company has been working on developing its artificial intelligence search, which allows people to take a photo or upload a screenshot of an item and find similar products on Pinterest.
Pinterest91裸聊视频檚 stock will list on the New York Stock Exchange under the 91裸聊视频淧INS91裸聊视频 ticker symbol.
READ MORE: What to know before joining this year91裸聊视频檚 IPO wave
The Associated Press
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