Pinterest could file an initial public offering (IPO) as soon as this coming April.
Citing sources familiar with the process, The Wall Street Journal reported that Pinterest could choose its underwriters for the IPO as soon as January. Once it’s set, the company could reach a valuation at or in excess of $12 billion, although that could obviously change between now and when the IPO becomes a reality.
The sources have also said that Pinterest has spoken to banks about a credit line that could be for as much as $500 million — another sign it is prepping for an IPO. While the company’s CEO Ben Silbermann has admitted that the company would aim for an IPO in 2019, he did not give any other details.
In September, Pinterest reached more than 250 million monthly active users, and is expected to generate more than $700 million in revenue this year — a 50 percent increase from 2017.
If Pinterest does go public, it will be just one of the high-profile tech companies filing an IPO in 2019. Uber and Lyft are currently locked in a race to be the first rideshare company to go public. Earlier this month, it was reported that Lyft was in the lead position after it filed a draft registration with the U.S. Securities and Exchange Commission (SEC). The company has chosen JPMorgan Chase & Co., Credit Suisse and Jefferies as underwriters for its IPO.
It is currently unknown what valuation Lyft is targeting for its IPO. As of its last fundraising round in early summer, the firm was valued at $15 billion, but will most likely demand a higher valuation from its IPO. For its part, Uber could be valued at around $120 billion.