Tech startups Pinterest, Zoom soar in Wall Street debut

Darnell Taylor
April 20, 2019

Based on the number of Class A and B shares outstanding after the offer, as detailed in a regulatory filing, Pinterest's IPO price would value it at about $10.1bn. As trading started on Thursday, prices for the company's shares ballooned to as high as US$65 per share. The video-conferencing software company announced it's IPO priced at $36 per share, at an estimated value of $9.2 billion.

For all the cautionary tales, there are companies like payment processor Square, which went public at $9 per share, rose 45% on the first day of trading and now sell for around $70.

Pinterest shares finished up 28 percent, at $24.40. It reported net income of $7.6 million for the year ended January on revenue of $331 million, compared with a loss of $3.8 million a year earlier on revenue of $151 million. This global ride-hailing startup is looking for a valuation of $100 billion with a potential price range of $48-$55 per share and could be the biggest IPO since Alibaba Group BABA went public in 2014.

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That advance puts him back at the sort of support he was garnering last September, before the yellow vest crisis, BVA said. He has named a general, Jean-Louis Georgelin, former chief of staff of the armed forces, to lead the reconstruction effort.


Pinterest's IPO was underwritten by a 12-member team led by Goldman Sachs and JPMorgan.

Pinterest trades on the New York Stock Exchange under the symbol PINS. Unlike other sites, Pinterest users typically are looking to eventually buy what they are searching for, which lines up with what advertisers want, he said. The company has more than 250 million monthly users. Analysts expect revenue will likely come more from squeezing additional ad dollars from the base of users Pinterest already has, rather than growing its total audience. Pinterest's revenues jumped 60% a year ago to $756 million. Pinterest's flotation on the stock market marks yet another Silicon Valley unicorn going public, following Zoom Video Communications and Lyft, and in advance of Uber which is expected to go public in May 2019.

A key difference between Pinterest and Lyft were their valuation expectations. But within two hours of trading, shares of ZOOM surged more than 80%, with trading volume that was quadruple the amount of shares that change hands on the average day.

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