Pinterest priced its IPO at $19 a share on Wednesday, $2 above the $15 to $17 range previously set in an SEC filing on April 8. At this price, Pinterest is set to raise about $1.4 billion at a valuation of $10.1 billion excluding restricted stock and options, which would bring the valuation up to $12.7 billion according to media reports.
The listing is the second biggest IPO in the United States so far this year, after ride-hailing company Lyft went public at a valuation of $24.3 billion in late March. Pinterest, which generated $756 million in revenue in 2018 and ended the year with 265 million monthly active users, will trade on the New York Stock Exchange under the symbol PINS starting on Thursday.
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