Pinterest prices IPO at $19, valuing social networking company at $10 billion
Pinterest raised $1.43 billion in its IPO after pricing the offering at $19 a share on Wednesday, valuing the company at $10 billion.
CNBC reported earlier on Wednesday that the company would price above the expected range. Pinterest's revenue jumped 60% last year to $756 million, and the company moved significantly closer to profitability with a net loss of $63 million. Still, Pinterest's IPO is below the $12 billion valuation it attained in a 2017 financing round.
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