after the market close, in which it reportedly aims to seek a valuation of at least $12 billion.
The filing shows that San Francisco-based Pinterest had revenue of $755.9 million last year, up from $472.9 million in 2017. It had a net loss of $63 million last year, compared to a net loss of $130 million in 2017. San Francisco-based Pinterest was valued at $12.3 billion after its latest fundraising round in June 2017. By that point cofounders Ben Silbermann, its CEO, and Evan Sharp, its chief creative officer,The ownership stakes for Silbermann and Sharp were not fully disclosed in the filing. The document, known as the S-1, notes that Silbermann owns 31.
Pinterest allows users to build photo collections online of fashion, recipes, furnishings or just about anything else. It has more than 250 million monthly active users, according to its filing. Founded in 2010, Pinterest was not an overnight success. Its user base grew slowly, and it took a long time to convince investors to open their purse strings. By June 2017, however, it had raised a total of $1.5 billion from investors that included Andreesen Horowitz and Bessemer Venture Partners, at a valuation of $12.3 billion, according to Pitchbook.I head up Forbes' manufacturing coverage, and write about manufacturing, industrial innovation and consumer products.