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July 23, 2018
4 minutes read

Pinterest on track for $1 Billion in revenue this year with aimed IPO for mid 2019

image credit : Flickr/TechCrunch Social Media platform Pinterest has now been reported to be on track to hit $1…

Social Media platform Pinterest has now been reported to be on track to hit $1 Billion in revenue this year doubling its $500 million sales of last year and aiming for an IPO in the second quarter of next year.

This was made known recently by CNBC in a write-up which states of 9 year old Pinterest having found good success with mobile ads as the social bookmarking site becomes a mainstream place for users looking for stuff to buy and advertisers alike consisting of several big brands looking to reach Pinterest’s over 200 million monthly users.

Pinterest which has raised $1.5 Billion in total funding since its inception now aims to go public next year and would see the San Francisco based startup join the likes of fellow highly valued unicorns including Uber and Airbnb which are considering holding IPOs next year.

Pinterest’s most previous major funding round gave the company a valuation of $12.3 Billion which places it among the top most valued unicorns in the world with its shares even now trading on the secondary market at an implied value between $13-$15 Billion.

Several investors were skeptical of Pinterest’s enormous valuation but with increasing revenues, It seems to be now living up to expectations surrounding its huge value on the private market.

Even as the $1 Billion seems high, It falls short of a forecast given in 2015 when the company’s leaked financial documents as reported by TechCrunch predicted $2.8 Billion for this year’s revenue which is more than double what is expected for this year.

Probably, The scaling of its business didn’t go as expected but Nevertheless, Pinterest still represents a major attraction for several brands mainly in the e-commerce region looking to take its product to a wider and much more optimized audience.

Pinterest has long been hailed as a platform combing the power of social media with e-commerce and from its metrics is doing exactly just that.

Another notable tech company which combines the influence of social media with huge e-commerce is Chinese tech startup Xiaohongshu which nabbed $300 million in funding at a $3 Billion valuation early June this year.