Pinterest pushes back IPO to 2019 after revenue miss: report
Pinterest is expected to go public in 2019 after missing its more than $500 million revenue target for 2017, The Information reported, citing anonymous sources. The social network is expected to have losses of about $100 million on revenue of about $490 million, according to the report. This year's full-year revenue is expected to be a 64% increase over the year earlier. Investors have valued privately-held Pinterest at $12.3 billion and it has recently raised $150 million. The report did not make the reasons for the revenue shortfall clear and said the company expects to have 220 million monthly active users. Gross margins in the first three quarters of 2017 improved by 47% compared with 2016, the report said.
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