Pinterest, the 19-year-old visual search engine, has revealed its S-1 when preparing a first public offer expected in April.
Valued at $ 12.3 billion in 2017 and took its first official step toward a 2019 IPO two months ago, hiring Goldman Sachs and JPMorgan Chase as the leading insurer for its NYSE offering. Now we give a closer look at its finances.
The San Francisco-based company, which will trade under the ticker symbol "PINS", reported sales of $ 755.9 million in the year ending December 31
Overall, Pinterest has made $ 1,525 billion in revenue since 2016.
Pinterest has likewise raised about 1, $ 5 billion from VC, noting both early and late investors on its cap table. The company's main stakeholders are Bessemer Venture Partners, FirstMark Capital, Andreessen Horowitz, Fidelity and Valiant Capital Partners, although the filing does not indicate the percentage of each of these units.
Pinterest counts over 250 million monthly active users, giving approximately $ 700 million in advertising revenue by 2018, per report, an increase of 50 percent over the previous year. The business employs 1,600 people in 13 cities, including Chicago, London, Paris, São Paulo, Berlin and Tokyo. By filing, Pinterest has signed a lease for a brand new San Francisco headquarters, which will be built near its current HQ.
The company's global average revenue per user (ARPU) during the year ending December 31, 2018 was $ 3.14, up 25 percent YoY. Its US ARPU, meanwhile, was set at $ 9.04, an increase of 47 percent from the previous year.
Pinterest arose in 2010 as a buzzy social media startup and mobile app meant to share inspirational images and quotes. Under the leadership of co-founder and CEO Ben Silbermann, it has expanded over the years, as it has tried to make money on the platform, which is based on advertising revenues being kept afloat. Last fall, in an effort to make more of their users shoppers (and compete with Instagram), the company built up the infrastructure behind their product pins. The update brought to the app current pricing and inventory information on all product pins, links directly to retailers, a new category "Products like this" during each fashion and home decorating pin and other user-friendly tweaks.
Pinterest's IPO paperwork emerged a few hours after another tech unicorn, Zoom, archived to become public. Several billion dollar technology companies have chosen to choose IPO in 2019, even after a week-long public closure caused a considerable delay of offers. Pinterest follows Lyft, which presented its S-1 and nearly $ 1 billion in 2018 losses three weeks ago. Uber and Slack are both expected to make their IPO paperwork available to the public soon.
Pinterest may look to take advantage of the 2019 IPO hype as Spearheaded by Uber and Lyft, but the Information has previously reported that Pinterest's offer might be hit by because it is a social media operations, which means that it is often compared to Facebook and Twitter, a few companies that have repeatedly been concerned about user protection.
We have to wait a few weeks to get a better understanding of Wall Street's demand for Pinterest. If there is something like Lyft's IPO, which is already oversubscribed, the company will do well.
This story is updated.