Pinterest may become the latest in an ever-growing list of tech companies that will look to go public in the first half of 2019.
The visual search engine and social network could choose underwriters to run its initial public offering (IPO) process as early as January, with an eye to launching its IPO as soon as April, according to a report from The Wall Street Journal. It’s likely the company, founded in 2008, will be valued at close to $12.3bn – its valuation at its last round of funding back in June 2017, which took the company to almost $1.5bn raised.
As per the report, Pinterest is in talks to secure a $500m credit line – a move often seen from firms that already of a big size pre-IPO.
In September, Pinterest announced that it now has more than 250m people using its platform every month, while the number of Pins on the platform increased by 75 per cent between early 2017 and September 2018.
The past year has seen Pinterest introduce several different products, tools, and program including lifestyle ad formats within its shopping ads program, carousel ads, a chat tool, and an influencer marketing program.