Pinterest has reportedly filed for an IPO
- Pinterest has filed a confidential S-1 and has its eye on a June IPO, according to the Wall Street Journal.
- The company hired Goldman Sachs Group and JPMorgan Chase as its lead banks, according to the report.
- The company could seek a valuation of $12 billion, according the report.
Pinterest, the social media site where people "pin" images and seek inspiration, has confidentially filed to go public, according to the Wall Street Journal.
The company, which reportedly interviewed bankers in January, is working with Goldman Sachs and JPMorgan Chase on the IPO, according to the report.The company aims to go public around June at a valuation of at least $12 billion, according to the Journal.
Pinterest was last valued at $12.3 billion in a 2017 funding round.
Founded in 2008, Pinterest is the latest Silicon Valley unicorn to seek a 2019 IPO, in what could be a record-setting year thanks to the massive valuations garnered by these startups on the private markets. Hiding hailing unicorns Lyft and Uber are both reportedly on track to hit the public markets in the upcoming months.
If all goes as planned, they will be joined by the enterprise collaboration platform Slack, which announced that it had confidentially filed, as well as PagerDuty and Zoom.
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