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Illustration: Aïda Amer/Axios

Pinterest, the social bookmarking platform, on Friday filed for an IPO that should result in its shares being traded next month on the New York Stock Exchange.

Big picture: Pinterest is one of several 2019 IPO hopefuls that have remained private longer than have past generations of tech startups, thanks largely to a ready flow of investor capital. The San Francisco-based company was founded over a decade ago, and has raised nearly $1.5 billion (most recently at a $12.3 billion valuation).

Pinterest reports a $63 million net loss on $756 million in revenue for 2018, compared to a $130 million net loss on $473 million in revenue for 2017.

  • It plans to trade on the New York Stock Exchange under ticker PINS, with Goldman Sachs, Morgan Stanley and Allen & Co. as lead underwriters.
  • The San Francisco-based company claims 250 million monthly active users, two-thirds of whom are female.
  • Top shareholders include Bessemer Venture Partners, Andreessen Horowitz, FirstMark Capital, Fidelity and Valiant Capital Partners.

"Pinterest can go after every segment, everything from retail to even financial services," eMarketer analyst Andrew Lipsman tells Axios. "People actually engage in personal finance sharing on Pinterest, so it's actually relevant to a lot of companies, which means its advertising application potential is really strong."

History as a guide: Pinterest will be going public just after Instagram introduced an in-app e-commerce feature. This doesn't go at the heart of Pinterest's business, which is more about promoted pins than its "shop the look" pins, but it is a bit reminiscent of how Instagram introduced its Stories feature as Snap was gearing up for its own IPO.

Expand chart
Data: eMarketer; Chart: Andrew Witherspoon/Axios

Go deeper

Mike Allen, author of AM
2 hours ago - Politics & Policy

Biden's "overwhelming force" doctrine

President-elect Biden arrives to introduce his science team in Wilmington yesterday. Photo: Kevin Lamarque/Reuters

President-elect Biden has ordered up a shock-and-awe campaign for his first days in office to signal, as dramatically as possible, the radical shift coming to America and global affairs, his advisers tell us. 

The plan, Part 1 ... Biden, as detailed in a "First Ten Days" memo from incoming chief of staff Ron Klain, plans to unleash executive orders, federal powers and speeches to shift to a stark, national plan for "100 million shots" in three months.

Off the Rails

Episode 2: Barbarians at the Oval

Photo illustration: Sarah Grillo/Axios. Photo: Jim Watson/AFP/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. This Axios series takes you inside the collapse of a president.

Episode 2: Trump stops buying what his professional staff are telling him, and increasingly turns to radical voices telling him what he wants to hear. Read episode 1.

President Trump plunked down in an armchair in the White House residence, still dressed from his golf game — navy fleece, black pants, white MAGA cap. It was Saturday, Nov. 7. The networks had just called the election for Joe Biden.

Fringe right plots new attacks out of sight

Illustration: Aïda Amer/Axios

Domestic extremists are using obscure and private corners of the internet to plot new attacks ahead of Inauguration Day. Their plans are also hidden in plain sight, buried in podcasts and online video platforms.

Why it matters: Because law enforcement was caught flat-footed during last week's Capitol siege, researchers and intelligence agencies are paying more attention to online threats that could turn into real-world violence.

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