Pinterest
Pinterest is gearing up for an initial public offering as early as April 2019 and is in the process of talking to bankers as it seeks to choose its underwriters, The Wall Street Journal reported.
The company could be valued at more than $12 billion, sources told the Journal. That's also the level at which Pinterest most recently raised funding.
Transform talent with learning that worksCapability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More The report comes on the heels of Pinterest tapping former Google and Alibaba exec Jane Penner to be its head of investor relations, as Business Insider first reported last week.
Read More: Pinterest has nabbed Google and Alibaba's former head of investor relations - the biggest sign yet that it's gearing up for a 2019 IPO
Pinterest has also contacted a number of banks for a credit line that could come in at around $500 million, according to the Journal.
Companies typically reach out to banks for lending in the run-up to an IPO to incentivize them to land a role on the offering. They also hire investor-relations executives a few months before going public.
Pinterest is poised to double its revenue this year to nearly $1 billion, according to a CNBC report from this summer, and has a valuation of $13 billion to $15 billion. In September, it announced it had 250 million monthly users, up from 200 million a year before.
2019 is expected to be a banner year for initial public offerings, with a roster of hopefuls including Uber, Lyft, Slack, and Airbnb.
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