Markets

Pinterest's shares soar 25 pct in market debut

Pinterest's shares soar 25 pct in market debut

Other high-profile companies considering going public include Slack Technologies Inc, Postmates Inc, Palantir Technologies Inc and Airbnb Inc. The outcome Wednesday was that it raised about $1.4bn in an above-range initial public offering. While the crowded video collaboration market presented many challenges, and the incumbents - Cisco Webex, GoToMeeting, and others - are innovating, Zoom captured lightning in a bottle with its intuitive service. However, that's not the case with Zoom.

The extremely popular social media site Pinterest Inc.

Pinterest, Inc. led by Chairman, Co-Founder, President and CEO Ben Silbermann and Co-Founder, Chief Design and Creative Officer, Evan Sharp ring the opening bell celebrating the IPO of Pinterest Inc.at the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019. Pinterest's last valuation, from a private funding round in 2017, was US$12.3 billion.

Heathcote residents invited to take part in free Easter egg hunt
Six-year-old Eloise Hallquist said she too came to the egg hunt, which drew about 100 people, to see her neighbors. The eggs will be handed out at the start of the event and must be able to be removed or viewed after the drop.

Since its inception, Pinterest has has sought to evolve from a digital scrapbooking service to a visual discovery site, which will make it a potential competitor to market leader, Google Search. In this case, Zoom's ability to profit while growing rapidly made it the clear victor. The rate of the company's revenue growth was taken as a clear indication of future profitability, which is likely why there was such a high demand for its IPO. Same could be argued for Zoom Video Communications. The online image-sharing company saw its revenue jump to $755.9 million last year from $473 million a year prior. That concern arose despite Yuan becoming a billionaire three times over as the video-conferencing company soared to a value of $15.9 billion after its $751 million IPO. "As long as we stay humble, continue working as hard as we can to keep delivering happiness to our customers, I think it will be OK in the long run". In March, Jaluria estimated that Zoom would reach a valuation between $10 to $15 billion on its debut.

Pinterest is also the most high-profile listing of a USA social media company since Snap Inc in 2017.


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