Trending in the latest fintech news, digital scrapbooking site Pinterest has announced its plans to go public.
By doing so, it has become the latest Silicon Valley unicorn to publish plans of its IPO.
Read on to know everything about this exciting news in the world of finance and technology.
Pinterest Declares Billion IPO Initially, Pinterest's regulatory filing valued the company at around billion.
While the figure is significantly less than previous valuations, it could change if investors back up the IPO.
After the ride-sharing company Lyft, Pinterest has become the second unicorn company to get listed on the US share market. "Unicorn" is the term given to companies valued above a billion dollars.
In total, private investors have poured a staggering .5 billion into Pinterest.
If the company goes public at a price below its last private market valuation, it wouldn't be the first time in this era of highly-values startups.
Making a market debut at less than billion could mean a loss for the new investors in the company.
Who are the Stakeholders in Pinterest's IPO?
However, Pinterest's initial investors will see a huge payday.
According to an updated prospectus released by the company, it unveiled the ownership stakes of its largest stakeholders.
The impressive list included leading venture capital firms such as Andreessen Horowitz, FirstMark Capital and Bessemer Venture Partners.
The individual ownership stakes would be classified as follows: FirstMark’s stake would be worth 0 million, Andreessen’s would be 6 million and Bessemer’s stake would be worth 2 million.
Pinterest Plans to Sell 75 Million Shares As per the company's filings, Pinterest has plans to sell 75 million Class A shares priced between - per share .
When the company previously raised money in 2017, Pinterest's valuation was