Yahoo Finance Pinterest prices public offering at $19 per share
Pinterest set the price for its stock at $19 per share Wednesday evening, putting it on track to raise more than $1.4 billion
FILE - In this Oct. 11, 2018, file photo, Evan Sharp, Pinterest co-founder and chief product officer, poses for a photo beside a wall of pegs symbolizing the company logo at Pinterest headquarters in San Francisco. Pinterest plans to raise up to approximately $1.47 billion in its initial public offering. The Digital scrapbooking site said in a Monday, April 8, 2019, regulatory filing that the offering includes about 86.3 million shares, priced between $15 and $17 per share. Pinterest is offering 75 million Class A shares. (AP Photo/Ben Margot, File)
SAN FRANCISCO (AP) -- Pinterest is pricing its shares at $19 for its initial public offering Thursday, putting it on track to raise more than $1.4 billion.
The digital scrapbooking and image search site said last week it expected to sell 75 million shares at a price between $15 and $17 each. The company will begin trading on the New York Stock Exchange under the symbol PINS.
Pinterest had revenue of $756 million last year and a loss of $63 million. It has more than 250 million monthly users.
Pinterest and Zoom, also scheduled to go public Thursday, are the first tech companies to list their stock since the highly anticipated Lyft debut. Lyft shares are down more than 30 percent from their high in late March.
