Pinterest pre-IPO valuation puts it at $11.6 billion

Social photo sharing platform Pinterest filed an updated S-1 just two weeks after filing for its IPO. The S-1 set the price range at $15-17 per share for a sale of 75 million shares, meaning the company will raise between $1.125 billion and $1.275 billion. According to TechCrunch: “In terms of valuation — if you calculate Class A, Class B, plus options for additional Class B for total shares outstanding totalling 664.84 million shares — this values Pinterest at $10.64 billion in the midrange ($16/share), with the full range being $10 billion (at $15/share) and $11.3 billion (at $17/share).”

In the original S-1, Pinterest revealed that it had revenue of $755.9 million in the year ending December 31, 2018, up from $472.8 million in 2017, and hit 265 million users late last year. The company’s net loss, meanwhile, shrank to $62.9 million last year from $130 million in 2017, according to published reports.

The San Francisco-based company will trade under the ticker symbol “PINS” on the New York Stock Exchange.

 

In total, Pinterest has posted $1.525 billion in revenue since 2016. Pinterest has raised $1.5 billion to date and was last valued at $12.3 billion, in 2017. Its investors include Bessemer Venture Partners, Andreessen Horowitz, FirstMark Capital, Fidelity and SV Angel.