Pinterest, a service that lets users bookmark or
Pinterest is the latest unicorn to stampede toward Wall Street this year. Lyft is currently looking to raise more than $2 billion from its public offering. Slack and Postmates have both filed paperwork to go public. And Uber, the biggest of the group, is expected to make its Wall Street debut later this year.
In 2018, Pinterest posted revenue of $756 million, up from $473 million in the year prior. Like many tech companies going public, however, Pinterest is not yet profitable. The company lost $63 million in 2018, down from a net loss of $130 million in 2017.
The company was founded in 2010 by Ben Silbermann, Evan Sharp and Paul Sciarra, the last of whom parted ways with the company early in its history. Over the years, Pinterest has tried to evolve from being a digital scrapbooking service to a visual discovery tool, positioning it as a potential competitor to products like Google Search.
At the same time, Pinterest has long insisted it’s not a social media service, despite building an ad-based platform where users can follow friends, colleagues and brands, and view their daily posts in a feed.
