Pinterest files to go public. Its not-so-secret weapon: Moms

For years, Pinterest received less media attention — and less scrutiny — than rivals like Facebook, Instagram or Twitter. Now the company may finally hav...

Posted: Mar 25, 2019 9:05 AM

For years, Pinterest received less media attention — and less scrutiny — than rivals like Facebook, Instagram or Twitter. Now the company may finally have a moment in the spotlight.

Pinterest, a service that lets users bookmark or "pin" images ranging from recipes to home design, filed paperwork on Friday to go public. It will list on the New York Stock Exchange under the stock ticker "PINS."

The company set a placeholder target of raising $100 million in the public offering, an amount that will likely change as it begins courting public market investors.

Pinterest is the latest unicorn to stampede toward Wall Street this year. Lyft is currently looking to raise more than $2 billion from its public offering. Slack and Postmates have both filed paperwork to go public. And Uber, the biggest of the group, is expected to make its Wall Street debut later this year.

In 2018, Pinterest posted revenue of $756 million, up from $473 million in the year prior. Like many tech companies going public, however, Pinterest is not yet profitable. The company lost $63 million in 2018, down from a net loss of $130 million in 2017.

The company was founded in 2010 by Ben Silbermann, Evan Sharp and Paul Sciarra, the last of whom parted ways with the company early in its history. Over the years, Pinterest has tried to evolve from being a digital scrapbooking service to a visual discovery tool, positioning it as a potential competitor to products like Google Search.

At the same time, Pinterest has long insisted it's not a social media service, despite building an ad-based platform where users can follow friends, colleagues and brands, and view their daily posts in a feed.

"At its most basic level, it's just about you," Silbermann told CNN Business in a recent interview. "It's not about following the news. It's not about accruing followers. It's not about following celebrities. It's really about your personal interests."

In the filing, Pinterest describes itself as a "productivity tool" rather than a social network. When listing off competitors, it starts with Amazon, rather than social networks like Facebook and Instagram.

The fact that it's less focused on news sharing and virality has arguably helped insulate the company from recent criticisms of other social networks for spreading fake news and harmful content. Over the years, however, Pinterest has served as a platform for some Russian propaganda, anti-vaccination content and posts glorifying eating disorders.

Last month, Pinterest made headlines by taking the step of blocking searches on the platform related to vaccinations.

Pinterest now has more than 250 million monthly users, according to its filing to go public. It is much smaller than Facebook and Instagram, which measure their audience in billions, but its size is competitive with the likes of Twitter and Snapchat.

While its reach may be smaller than some, Pinterest has long been viewed as an ideal environment for advertisers, given it's a platform filled with aspirational content. It is also very popular with a key demographic that is often overlooked by Silicon Valley: women.

In the filing, Pinterest says two-thirds of its user base are women. More than that, it claims to have "eight out of 10 moms" in the US, "who are often the primary decision-makers when it comes to buying products and services for their household."

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 164581

Reported Deaths: 4143
CountyConfirmedDeaths
Marion26055792
Lake14436358
St. Joseph9606168
Elkhart9271138
Allen8647231
Hamilton6400115
Vanderburgh617162
Tippecanoe396715
Porter347550
Hendricks3418134
Monroe335638
Johnson3286130
Delaware311575
Clark306263
Vigo275340
Madison250896
LaPorte239261
Cass229724
Warrick205065
Kosciusko201127
Floyd187468
Howard169466
Bartholomew147958
Marshall147428
Dubois146426
Wayne142031
Grant133539
Henry133030
Boone129150
Hancock124744
Noble122935
Jackson121018
Dearborn103128
Morgan100340
Lawrence96838
Gibson94412
Clinton92416
Daviess92334
Shelby90632
LaGrange82815
Knox81810
Harrison81024
Posey7767
Putnam77616
Fayette76719
DeKalb76011
Jasper6885
Miami6715
Steuben6608
Montgomery63122
White62316
Greene57838
Adams5607
Scott55413
Decatur52839
Ripley4838
Whitley4836
Clay4617
Sullivan45714
Wells45611
Huntington4455
Starke4438
Wabash4439
Orange42425
Spencer4176
Randolph39210
Jennings38713
Washington3873
Franklin38325
Fulton3785
Perry36914
Jefferson3655
Pike35718
Carroll34313
Jay3386
Fountain3293
Tipton28423
Vermillion2721
Parke2564
Rush2464
Blackford2394
Newton23711
Owen2151
Martin2050
Pulaski1783
Crawford1631
Brown1473
Ohio1337
Union1140
Benton1130
Switzerland980
Warren911
Unassigned0236

Ohio Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 200231

Reported Deaths: 5217
CountyConfirmedDeaths
Franklin32468642
Cuyahoga20452685
Hamilton17564344
Montgomery10959190
Butler8727131
Lucas8549375
Summit6978269
Warren446566
Stark4045182
Mahoning3863287
Marion345650
Pickaway309246
Delaware299728
Lorain286289
Fairfield284257
Licking274367
Clark263157
Clermont262238
Wood262082
Greene249942
Trumbull2380134
Allen228974
Columbiana218588
Miami213258
Lake206959
Medina197242
Portage172468
Mercer159629
Wayne155871
Ross148939
Richland143024
Tuscarawas138627
Athens12812
Erie119454
Darke119051
Hancock113327
Putnam112527
Auglaize110618
Madison108115
Lawrence98525
Shelby96414
Muskingum9534
Scioto9219
Geauga89850
Belmont81127
Union7993
Ashtabula76048
Sandusky74022
Huron72915
Holmes71611
Preble67718
Seneca63614
Ottawa61030
Fulton57115
Henry53117
Crawford5268
Clinton50613
Defiance50513
Jefferson4994
Jackson4928
Highland4756
Fayette46110
Logan4573
Ashland4359
Knox42516
Champaign4233
Brown4103
Morrow3872
Perry38511
Washington38124
Hardin36713
Williams3664
Guernsey3658
Coshocton34412
Pike3340
Gallia30613
Wyandot30313
Van Wert2905
Paulding2392
Adams2266
Carroll2217
Meigs21412
Hocking2129
Monroe17818
Noble1660
Vinton1093
Harrison863
Morgan830
Unassigned00
Fort Wayne
Overcast
43° wxIcon
Hi: 52° Lo: 41°
Feels Like: 39°
Angola
41° wxIcon
Hi: 50° Lo: 38°
Feels Like: 37°
Huntington
Overcast
42° wxIcon
Hi: 52° Lo: 41°
Feels Like: 38°
Decatur
Overcast
43° wxIcon
Hi: 53° Lo: 41°
Feels Like: 43°
Van Wert
Overcast
43° wxIcon
Hi: 53° Lo: 41°
Feels Like: 43°
Sunny Wednesday
WFFT Radar
WFFT Temperatures
WFFT National

Community Events