Author: Erin Griffith / Source: New York Times
Anastasiia Sapon for The New York Times
SAN FRANCISCO — Pinterest plans to set a price range for its initial public offering that will value it at below the $12 billion that private investors last pegged the company at, according to a person with knowledge of the situation.
The digital pin board company is preparing to put out a filing on Monday with the price range for its I.P.O., said the person, who declined to be identified because the details are confidential. Pinterest, which was valued at $12 billion in 2017 by venture capitalists and other private investors, is part of a horde of high-profile but unprofitable tech start-ups that are now moving toward the public market.
A stock market valuation of less than $12 billion for Pinterest raises questions about investor demand for these companies. Lyft, the ride-hailing company that is deeply unprofitable, went public last month amid a great deal of hype — until its shares promptly fell below its offering price on its second day of trading. The stock has since recovered.
How Lyft and Pinterest perform in their public debuts will be critical in the lead-up to the public offering of Uber, the largest of this generation of tech…
The post Pinterest Said to Price I.P.O. Below Last Private Valuation appeared first on FeedBox.