Pinterest Files For IPO

(RTTNews) - Pinterest Inc., a social media web and mobile application company, filed on Friday with the SEC to raise up to $100 million in an initial public offering. No pricing terms were disclosed.

The company that operates a software system designed to discover ideas for just about anything you can imagine: daily activities like cooking dinner or deciding what to wear, major commitments like remodeling a house or training for a marathon, ongoing passions like fly fishing or fashion and milestone events like planning a wedding or a dream vacation. The company's primary revenue stream is from advertisements, with brands paying for "promoted pins."

The San Francisco-based company, which is the productivity tool for planning dreams allows users to "pin" images, is planned to apply to list Class A common stock on the NYSE under the symbol "PINS."

For 2018, the company's net loss narrowed to $63 million and the revenue rose to $756 million. The company's global average revenue per user (ARPU) in the year ended December 31, 2018 was $3.14, up 25 percent YoY. Its U.S. ARPU was $9.04 and international ARPU was $0.25, which represent increases of 47% and 22%, respectively.

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.

Pinterest said in its filing that it has experienced significant growth in global monthly active users or MAUs over the last several years The company believes this is a result of its "recent focus on localizing content in international markets" and expects growth in this segment to continue to outpace U.S. user growth in the near term.