Pinterest sets IPO to raise up to $1.5 billion
WASHINGTON: Pinterest said Monday it would raise up to $1.5 billion in its stock offering, setting a price range that trims the value of the online visual discovery startup. San Francisco-based
- San Francisco-based Pinterest's price range of $15 to $17 a share would give it an estimated valuation of some $11 billion, below the $12 billion in its most recent private funding round.
- Pinterest, a virtual bulletin board that connects people with interests including food, fashion, travel and lifestyle, plans to trade under the symbol PINS on the New York Stock Exchange.
- Pinterest attracts users who create virtual bulletin boards with pictures showcasing interests in anything from food to sports, fashion or travel.
- In addition to making money from ads, Pinterest seeks to become a force in e-commerce by enabling users to click on images to purchase items they see.
- Harbath said political ad purchases in India now require either a certificate from the Election Commission or a physical address in India, as well as a phone number and group name of the entity purchasing the ad.