Pinterest releases IPO prospectus, reported $756 million in revenue last year. On Friday, Pinterest filed for IPO, showing strong user growth worldwide.
The company allows users to “pin” images to plan their weddings, find recipes. The San Francisco-based social networking company reported strong revenue growth in 2018, which came from advertising.
Pinterest posted $756 million of revenue last year, the growth of 60 percent from $473 million in a year earlier. The company had 265 million monthly active users in the fourth quarter of 2018 that follows Facebook’s 2.32 billion and 321 million MAUs of Twitter.
In its IPO filing, the company said that over the past few years, the number of its international monthly active users has been growing. Pinterest notes that its “recent focus on localizing content in international markets” highly contributed to these numbers.
Global average revenue per user amounted to $3.14, marking a growth of 25 percent from 2017. At another side, Facebook’s average revenue per user was $24.96 in 2018 and $7.37 in the last quarter of last month.
In the U.S., Pinterest booked $9.04 in ARPU, representing a 47 percent increase compared to 2017.
“In the United States, more people use Pinterest to find or shop for products than on social networks, according to a survey by Cowen and Company,” according to the filing.
Pinterest’s IPO filing follows prospectus released by Zoom, a video conferencing company, Lyft, the ride-sharing company, and PagerDuty, a cloud computing company. According to a report, major firms such as Slack, Palantir, and Uber would also go public in 2019.