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Pinterest to Set Conservative Price Range in Initial Offering of Shares

The platform allows people to search for and “pin” images that interest them, whether it’s fashion, sports, pets or travel

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FILE - Pinterest co-founder and chief product officer, poses for a photo beside a wall of pegs symbolizing the company logo at Pinterest headquarters in San Francisco, Oct. 11, 2018. VOA

Pinterest, among the gaggle of tech companies hoping to go public this year, set a conservative price range Monday for its initial public offering. It hopes to raise as much as $1.5 billion in its initial offering of shares.

The digital scrapbooking site said in a regulatory filing 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. But it falls below the estimated $12 billion value from earlier sales of shares to private investors, according to reports two years ago.

Companies set their price range for an initial public offering with a tricky calculus set by investment banks and underwriters. They don’t want to set the bar too low, but going too high can lead to a sell-off.

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Pinterest has long shunned the label of being a social network. It doesn’t push users to add friends or build connections. Pixabay

And those tech companies still planning to go public this year may be treading more carefully following the debut of Lyft 11 days ago. After a much ballyhooed debut , the stock slumped for two days. While its shares bounced back from their lows last week, they remain far below the heights reached in the flurry of first-day trading, and they fell 3% Monday, again dipping under the initial offering price.

The Lyft drop was a “major gut check time for Lyft and the tech IPO world to see how this stock trades given it was the first one out of the box,” said Wedbush Securities analyst Dan Ives after Lyft shares tumbled.

Other tech companies pushing to go public this year include Uber, Lyft’s 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 “pin” images that interest them, whether it’s fashion, sports, pets or travel.

 

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The San Francisco company had revenue of $756 million last year, a 60% bump from 2017. It had a loss of $63 million in 2018, compared with a loss of $130 million in 2017. Pixabay

Pinterest has long shunned the label of being a social network. It doesn’t push users to add friends or build connections. That means it’s avoided the privacy tangles that have ensnared companies like Facebook. Pinterest makes advertising revenue when businesses promote pins in users’ feeds.

The San Francisco company had revenue of $756 million last year, a 60% 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 company’s CEO and chief product officer, respectively.

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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.

Pinterest’s stock will list on the New York Stock Exchange under the “PINS” ticker symbol. (VOA)

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Pinterest Partners One Impression to Empower Creators in India

The company closely works with over 140 enterprise customers and fast-growing startups across categories in helping them drive all influencer-led initiatives

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Pinterest, Misinformation. Vaccines
Pinterest's logo. VOA

Influencer marketing platform One Impression on Tuesday announced a partnership with US-based visual search engine Pinterest to build a stronger creator and brand ecosystem in the country.

As part of the partnership, One Impression will collaborate with creators so they can grow within the Pinterest ecosystem.

The company has been chosen as an Influencer Marketing API Partner in India by Pinterest, it said in a statement.

“The influencer ecosystem is growing rapidly both globally and in India. Our partnership with Pinterest will give influencers the opportunity for broader exposure to brands with whom they can co-create authentic campaigns,” said Apaksh Gupta, Founder and CEO, One Impression.

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Pinterest now has 250 mn monthly users. Flickr

Pinterest has millions of monthly users in India, with more than 320 million monthly visitors globally.

It is used by creators around the world, including India to engage with audiences who are looking for ideas for new recipes to try, fashion and beauty looks, travel destinations, home decor inspiration and much more.

Also Read: Instagram Announces to Expand its Fact-checking Programme Globally to Combat Misinformation

One Impression has over 12 million content creators in their network globally and has active campaigns in over 10 countries.

The company closely works with over 140 enterprise customers and fast-growing startups across categories in helping them drive all influencer-led initiatives. (IANS)