Image sharing website Pinterest said on Monday it would offer 75 million of its Class A shares as part of its initial public offer and priced them in the range of $15 to $17 per share.
The company, which plans to list under the symbol “PINS” on the New York Stock Exchange, was valued at $12 billion in its last fundraising round in 2017. The social media company is set to launch its investor roadshow today.
Pinterest users “pin” items they like so that their friends and followers can view curated lists of subjects such as recipes, clothing items, household goods, and places to travel. That all provides valuable and targeted data about consumers’ interests and their intent to buy.
—CNBC contributed to this report.