Pinterest, among a gaggle of tech companies planning to go public this year, hopes to raise as much as $1.5 billion in its initial offering of shares.
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.
That, at the higher end, could put the value of the company at around $9 billion. But it falls below the estimated $12 billion value from earlier sales of shares to private investors, according to reports two years ago. And those tech companies still planning to go public this year may be treading more carefully following the debut of Lyft 11 days ago. After a much ballyhooed debut , the stock slumped for two days. While its shares bounced back from their lows last week, they remain far below the heights reached in the flurry of first-day trading, and they closed down nearly 6% Monday, again dipping under the initial offering price.
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