Pinterest has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering (IPO) around June, according to the Wall Street Journal. The company is seeking a valuation of 12 billion US dollars.
If confirmed, Pinterest would be the latest in a series of tech companies confidentially filing for IPOs in recent times, following Uber and Lyft Inc. These companies managed to avoid going public for years because they always attracted investors -- a trend which is reversing as of late, according to the newspaper.
While much smaller than other social networks (Pinterest has a user base of 250 million users, against 2.2 billion on Facebook, 1 billion on Instagram and 326 million on Twitter), Pinterest is a powerful tool to reach out to new customers, as it is a platform to discover new products, brands and styles.
FashionUnited has contacted Pinterest for comment, but the company said it does not comment on speculations.