The company is the latest tech giant to go public after seemingly endless rounds of venture capital, and its performance and experience will be instructive for other unicorns such as Slack, which is planning to go public soon, and Stripe, which is hotly tipped to go public in the year ahead though no plans have yet been revealed.
For all the cautionary tales, there are companies like payment processor Square, which went public at $9 per share, rose 45% on the first day of trading and now sell for around $70.
Pinterest, Inc. led by Chairman, Co-Founder, President and CEO Ben Silbermann and Co-Founder, Chief Design and Creative Officer, Evan Sharp ring the opening bell celebrating the IPO of Pinterest Inc.at the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019.
Shares of the digital-scrapbooking company opened at US$23.75.
Zoom's China-born founder Eric Yuan, 49, who was refused a United States visa eight times, now holds shares worth more than £2 billion in his company. During Pinterest's IPO process, the company obtained loyal users but failed to create a significant strategy for making money off of this base.
IPOs of Pinterest and other such loss-making unicorns - startup companies with valuations of at least one billion US dollars - have presented a predicament for investors sitting on the fence.
Ride-hailing global behemoth Uber is preparing what will likely be the year's biggest IPO in the U.S. It will seek to raise about $10 billion in May in a listing valuing it at about $100 billion, people familiar with its plans have said. In contrast to Pinterest Zoom in 2018 and made a small profit of about 7.6 million dollars. "We call it discovery". Pinterest highlights that statistic as an advantage over other platforms, given that mothers are 'primary decision-makers when it comes to buying products and services for their household.
Zoom raised $356.8 million after selling 9.91 million shares in the IPO. 'Pinterest is one of the few friendly corners of the Internet, he said. The company had about $756 million in revenue from online advertisements in 2018, a 60% growth rate that accelerated from the previous year.
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