Scrapbooking site Pinterest files for initial stock offering

Posted on Friday, March 22nd, 2019 By The Associated Press

SAN FRANCISCO (AP) — Pinterest, the digital scrapbooking site, has filed for an initial public offering of stock. That's kicking off the year's IPO season, which is also expected to include Uber, Lyft and messaging app Slack.

Pinterest said in a regulatory filing Friday that it intends to list its stock on the New York Stock Exchange. The company isn't saying how many shares it's selling in the IPO or how much money it intends to raise.

The San Francisco-based company had revenue of $756 million and a loss of $63 million last year.

Pinterest has long shunned being labeled a social network. Because of that, it doesn't push users to add friends or build connections. But it's also been able to avoid problems of its larger rivals like Facebook.

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