Published: Mon, March 25, 2019
Markets | By Otis Pena

Pinterest files to go public

Pinterest files to go public

Uber has reportedly picked the New York Stock Exchange for its forthcoming flotation in what could be one of the biggest listings on record.

The social media company could make its initial public offering (IPO) filing public on Friday and go public on the New York Stock Exchange in April, The Wall Street Journal is reporting, citing people who claim to have knowledge of its plans.

The companies and the NYSE declined to comment.

Other major technology companies including Google, Apple and Facebook trade on the Nasdaq.

The filing comes a day after jeans maker Levi Strauss & Co's blockbuster debut, and ride-hailing service providers Lyft Inc and Uber are set to pursue much-anticipated listings.

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Founded in 2010, Pinterest is among the longest-lived of Silicon Valley's unicorns - startups with a valuation of more than $1bn- that are lining up to go public this year or soon after.

The company said part of its strategy is to expand into new advertising markets, such as appealing to auto companies and financial services firms that want to reach its base of 250 million monthly active users.

Pinterest monetizes its website through advertisements, which it places among the "pins" that users put on the site.

Reuters reported in January Pinterest could raise around $1.5 billion and that the IPO was likely to come in the first six months of 2019.

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