Digital Gabe
Cutting Edge Commentary On All Things Media

Pinterest’s IPO Comes Into View

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On Monday Pinterest submitted its S-1 filing with the FTC, which is the formal needed paperwork ahead of going public.  This filing provides us a peek behind the curtain at the business metrics investors will be using to peg Pinterest’s market valuation.  Here are a few highlights:

  • 250M MAUs, including 82M in the US
  • 60% revenue growth from 2017 to 2018, up to $756M for the last full fiscal year
  • ARPU (avg rev per user) is a healthy $9.04 in the US, but drops to $3.14 worldwide
  • YoY costs jumped 34% to $242M in 2018

Another interesting way to analyze Pinterest’s IPO prospects is to compare their metrics to peer social publishers like Twitter and Snapchat who’ve gone public over the past few years.  AdExchanger has a fascinating side by side comparison in the attached link.

Right now the Street is ballparking Pinterest’s valuation in the $12B range.  We’ll find out soon enough if the company can pin down that kind of market cap.  (Sorry – I waiting to use that the whole time. 🙂 )

 

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