Here's who will get rich from Pinterest's IPO

Here's who will get rich from Pinterest's IPO

5 years ago
Anonymous $syBn1NGQOq

https://www.cnbc.com/2019/04/08/pinterest-ipo-the-largest-shareholders.html

Pinterest is seeking a valuation of up to $9 billion when it debuts on the public market this spring, which will rake in hundreds of millions for each of its founders and other major stakeholders. Pinterest's valuation was said to be $12 billion nearly two years ago when it raised its last round of funding.

The company plans to sell 75 million Class A shares at $15 to $17 per share when it starts trading on the New York Stock Exchange under the symbol "PINS," according to a regulatory filing. Pinterest will use a dual-class structure to concentrate voting power among major stakeholders including co-founders Benjamin Silbermann and Evan Sharp. These stakeholders will own Class B shares.