Pinterest opens at $23.75, 25% above IPO pricing

Lloyd Doyle
April 20, 2019

The digital scrapbook site's stock price approached $24.50 Thursday, up from an initial public offering price of $19 that had put Pinterest on track to raise more than $1.4 billion in potential payouts for its earliest investors.

Two highly-anticipated tech companies will make their public market debut Thursday, Pinterest and Zoom.

Pinterest is also the most high-profile listing of a US social media company since Snap Inc in 2017. Zoom posted $7.58 million in net income in 2018 while revenue ballooned by 118 percent to $330.5 million.

Zoom, the video conferencing company relying on cloud technology, thus taking a market share in a rather profitable sector, has had more than a successful IPO sale on April 18, 2019.


IPOs of Pinterest and other such loss-making unicorns - startup companies with valuations of at least one billion USA dollars - have presented a predicament for investors sitting on the fence. "Pinterest is not a pure media channel, nor is it a pure utility".

Pinterest's founders now own stakes worth millions of pounds.

A key difference between Pinterest and Lyft were their valuation expectations. "We call it discovery". It also enables users to link to online shopping and other services to find items they have "pinned". That includes 43% of Internet users in the USA and 8 out of 10 moms. Nevertheless, he also notes that the "market opportunity is huge, over $40 billion".

Zoom, the company that made a splash on the Nasdaq with the symbol ZM, is known to for selling video conference software to companies. 'Pinterest should have among the most valuable ad impressions, second only to the Google search ad, said Andrew Lipsman, an analyst at EMarketer. Even after its leap, its total market value is less than one-thousandth of the more famous Zoom. However, this is a great feat for a company that is a debutant in the NYSE. On the other hand, Pinterest may benefit from the heightened global scrutiny of Facebook, Google's YouTube and Twitter as those platforms struggle to remove hate speech, violent content and misinformation from their services.

Other reports by Iphone Fresh

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