Pinterest submits paperwork for impending IPO

Pinterest submits paperwork for eagerly awaited IPO

Pinterest has set the wheels in motion for its eagerly anticipated Initial Public Offering after submitting paperwork for its stock market debut to the Securities and Exchange Commission.

The landmark step means that the much-heralded transition is now underway with Pinterest likely to become the next big technology start-up list its shares later in the year, with an expectation that the moment of truth will come in late June.

Pinterest is aiming high, seeking a valuation of at least $12bn, joining a host of privately-owned tech companies in a race to go public to capitalise on insatiable investor demand. It is on a roll at present, surpassing 250m monthly active users, making it a prize catch for those seeking to invest.

Back in November it hired its first chief marketing officer, Andréa Mallard, the former marketing chief of Athleta.

Ride-sharing platform Lyft filed its own notice of intent last year and could formally announce its submission as early as next week for a late March listing, dovetailing with Uber’s own filing. Workplace communications provider Slack and Tencent are also gearing up for its own stock market debut.

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