Technology

Pinterest To Join Heavy Weight Techs After Its IPO

After making its IPO filing last week, Pinterest became another company to become public. The company will transact its shares on the New York Stock Exchange under the name PINS.

Pinterest permits users to ‘Pin’ pictures when they shop, plan their wedding or explore vacation destinations. The company gets its profits from the advertisements. The brands pay Pinterest for showcasing images of their products or places on the site.

There are some important findings as result of the IPO filing. The revenue for the company was 756 million dollars last year (2018). It has incurred 63 million dollars loss. The company has witnessed revenue growth from 60% in 2017 (which was 473 million dollars).

In Q4 of 2018 Pinterest had 265 million users. It is right behind Facebook (2.32 billion users) and Twitter (321 million active users). The IPO filing also stated that there has been considerable increase in the number of international active users on its site. The company thinks that it has published more of international content on its website in the past year, which led to this profit. They also informed that there will be more international followers on the site than in US. The average revenue per user was 3.14 dollars in 2018. This was 25% more as compared to the same in 2017. Facebook received 24.96 dollars in respect of active users in 2018; it got 7.37 dollars in the last quarter of 2018.In United States, Pinterest had 9.04 dollars ARPU in 2018; this was an increase by 47% than in 2017. The international profit percent has increased by 22%.

The company also informed that while no single customer had more than 10%of its revenue in 2018, most of the revenue came from the department from the consumer packaged goods and retail verticals.

About the author

Vincent Wilmot

Vincent Wilmot

Vincent Wilmot has been working with us for 2 years and with his hard work and efforts has earned the position of Senior Content Writer in a short span. He handles the content and news reporting of Business world; right from the latest trends, to mergers & acquisitions, to news and much more. In spare time, Vincent likes to go play with the share market numbers along with enjoying trekking and hiking with his friends.