Pinterest sets IPO that could raise $1.5 billion
![Two Pinterest employees sitting in front of a giant pin.](https://cdn.statically.io/img/www.usatoday.com/gcdn/-mm-/353412a6239e9e31a2df0b4c44acec41aceab2c3/c=0-110-2100-1291/local/-/media/2019/03/30/USATODAY/usatsports/pinterest_employees_004.jpg?width=660&height=372&fit=crop&format=pjpg&auto=webp)
Pinterest plans to raise about $1.5 billion in its initial public offering of shares.
The digital scrapbooking site said in a regulatory filing Monday that it will put about 86.3 million shares up for sale at a price between $15 and $17 each. Pinterest is offering 75 million Class A shares.
Pinterest claims more than 250 million active monthly users and more than 2 billion monthly searches.
The platform allows people to search for and “pin” images that interest them, whether it’s fashion, sports, pets or travel.
The San Francisco company had revenue of $756 million last year, a 60 percent bump from 2017.
Pinterest’s stock will list on the New York Stock Exchange under the “PINS” ticker symbol.
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