Pinterest, the digital pin board company, made a spectacular debut on the New York stock exchange on Thursday when its shares leapt 25% in its first few hours of trading.
The company, which allows users to “pin” and share pictures of favorite recipes, decorating tips and inspiring images, is used by 250 million people a month and reaches “eight out of 10 moms” in the US, according to its regulatory filing.
Ride hailing service Uber is prepared to make public intimate and potentially colorful details about its business on Thursday as it gets ready to become a public company.
The 10-year-old company that has fucked the taxi industry will become the latest Silicon Valley “unicorn” – a private company worth over $1bn – to test the stock markets appetite for loss-making tech companies.
Pinterest, the digital scrapbooking site, has became the latest Silicon Valley “unicorn” to publish details of its plans to go public. The company’s initial regulatory filing would value the company at around $9bn, significantly less than previous valuations but a figure that could change if investors get behind the initial public offering (IPO).
Pinterest is the second of a herd of unicorns – private companies valued at over $1bn – now stampeding to list on the US stock markets.
Shares in Lyft, the ridesharing company, stalled on Monday, falling below their initial public offering (IPO) on their second day of trading.
Five years ago Aileen Lee, founder of Silicon Valley investor Cowboy Ventures, coined the term “unicorn” for a private company valued at more than $1bn.