The visual discovery app estimates that shares for its initial public offering will range from $15 to $17, less than a previous funding round.
A Pinterest banner hangs on the facade of the New York Stock Exchange. . By Hamza Shaban Hamza Shaban Technology reporter Email Bio Follow April 8 at 10:24 AM Pinterest, the networking site where users can discover and share images for cooking, fashion and design, has set an IPO price range that values the company at upward of $9.2 billion, according to a regulatory filing Monday.
Though underwriters tend to price IPOs conservatively in the hope shares will exceed the set value after trading begins, Pinterest’s expected range gives the company a lower valuation than it had in 2017. At that time, it was worth an estimated $12 billion.
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