Pinterest is reportedly expected to price its IPO above the expected range
The image-sharing social media company initially said in a regulatory filing that it planned to sell 75 million shares at price range of $15 to $17 a share, valuing the company at $9 billion.
The company reported $756 million in 2018 revenue in its IPO prospectus. Revenue grew 60% year over year, but the social media company still had a net loss of $63 million. Pinterest will list under the symbol PINS on the New York Stock Exchange. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silbermann.—CNBC's Sara Salinas and Reuters contributed to this report.
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