Pinterest gets off to a flying start

Investors scrambled to buy the photo platform's shares when pinterest debuted on the new york stock exchange.

The first price of the shares listed on thursday under the ticker symbol "PINS" was 23.75 dollars, 25 percent above the issue price of 19 dollars. The price of the stock has risen at times to more than 12 billion dollars. The san francisco-based social media company raised $1.43 billion (1.27 billion euros) from investors in its initial public offering of 75 million shares.

The video service zoom, which for the first time traded its shares on the new york technology exchange nasdaq under the abbreviation "ZM," met with even greater investor interest. Here, the initial price of 65 dollars was around 80 percent higher than the issue price. As a result, the stock market value of the start-up, which specializes in video conferencing, has meanwhile soared to around 16.7 billion dollars. Zoom had previously raised 751 million dollars (668 million euros) with the sale of 20.9 million shares of stock.

As usual, the management of pinterest opened trading on the NYSE, decorated with company logos, with the traditional sounding of the bell. Founded in 2010, the start-up is in the red, but attracts investors with high growth: in 2018, sales increased by 60 percent year-on-year to more than 750 million dollars. Pinterest is not making any money so far, but was able to reduce the loss from 130 million to 63 million dollars. By the end of the year, the platform had 265 million active users.

Pinterest sees itself as a kind of visual search engine in which users can search for ideas for interior design or vacations, for example, and find images that match their interests. At the same time, you can save photos from the net as so-called pins on boards on specific topics. At the end of last year, according to pinterest, 175 billion pins were stored on 4 billion boards. Pinterest makes money primarily through advertising – paid pins that are displayed to users.

Pinterest and zoom stole the show with two of the biggest launches this year, which already saw big debuts with jeans icon levi's and ride-hailing company lyft. But the biggest spectacle is yet to come with uber's debut: lyft's big rival, with a total valuation of around 100 billion dollars, is aiming for the most highly valued stock market flotation since that of the chinese internet giant alibaba in 2014. 

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