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Mon, 2019-04-08 13:20
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 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.
The pricing suggests caution about the big venture backed “unicorns,” or startups worth more than $1 billion, after a mixed response to the Wall Street debut of ride-hailing firm Lyft.
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