Pinterest Eyes April IPO to Capitalize on Hot Market for New Stocks

Pinterest Eyes April IPO to Capitalize on Hot Market for New Stocks

The IPO market is heating up, with several tech companies getting for their public debuts.

A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2017. The final size will change.

Both Lyft and Uber filed confidential IPO documents with the Securities and Exchange Commission on the same day in December.

Pinterest revealed that it has 250 million users and growing revenues.

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The WSJ also reported that Apple and Roku are in talks to bring Apple's new TV services to Roku owners. Services revenue reached nearly $11-billion in the holiday quarter, up 19% from a year earlier.

As one of two dominant ride-hailing companies, Lyft was used by more than 30 million people across North America past year, generating $8.1 billion in gross bookings and $2.2 billion in revenue.

The filing confirms that Pinterest will debut with the same dual-class stock structure as Snap before it and Lyft, which is now pursuing its own IPO.

The company did not immediately respond to a request for comment on the reports it would list on the New York Stock Exchange.

Investors focused on corporate governance have criticized dual-class share structures after the likes of Snapchat parent Snap Inc and meal-kit maker Blue Apron Holdings Inc went public since with little or no voting representation for certain investors. Its larger ride-sharing rival, Uber Technologies, is expected to submit its public filing next month for an IPO that could value it at as much as $120bn, people familiar with the matter have said.

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