Nine years after its launch, Pinterest, the platform of images and virtual boards, announced last Friday its Initial Public Offering (IPO). This means that the San Francisco-based company will open the sale of its shares to the general public after years depending on private shareholders.
The company will list its shares in the New York stock market under the symbol “PINS”. In addition, it will be offered in a dual regime, that is, Pinterest will divide its shares according to two types of shareholding. Type “A”, intended for its founders, directors and employees, will grant the previous 20 votes per share. In contrast, the new shareholders will be classified as type “B” and their shares will be equivalent to one vote per share.
The case of Pinterest is quite particular for investors. In an era in which a large part of technological IPOs appear to be in crisis, the application presents a reduction in their losses and a positive growth in terms of their number of users, making it a profitable investment in the short term, although it is not yet profitable.
Uber and Lyft, for example, had losses of more than 800 million dollars just last year. By contrast, Pinterest achieved a 60% increase in profits over last year. In addition, last year the application had an average of 265 million active users per month. This figure represents an increase with respect to the data of 2017 that pointed to an average of 216 million monthly users.
However, the particularity of Pinterest is not only in its good positioning within the chaos of technological IPO, but in its own creation. In fact, for its creator, Ben Silbermann, never was among its interests an accelerated and monetized takeoff of the platform. For example, the application only started selling ads four years after its creation and, unlike other social networks, it has been extremely effective at censoring extremist content or related to conspiracy theories.