- Pinterest is in the process of talking to bankers as it seeks to choose underwriters for an early 2019 IPO, The Wall Street Journal reported.
The report comes on the heels of Pinterest hiring former Google and Alibaba exec Jane Penner as its head of investor relations, Business Insider first reported last week.
Pinterest is gearing up for an initial public offering as early as April 2019 and is in the process of talking to bankers as it seeks to choose its underwriters, The Wall Street Journal reported.
The company could be valued at more than $12 billion, sources told the Journal. That's also the level at which Pinterest most recently raised funding.
The report comes on the heels of Pinterest tapping former Google and Alibaba exec Jane Penner to be its head of investor relations, as Business Insider first reported last week.
Pinterest has also contacted a number of banks for a credit line that could come in at around $500 million, according to the Journal.
Companies typically reach out to banks for lending in the run-up to an IPO to incentivize them to land a role on the offering. They also hire investor-relations executives a few months before going public.
Pinterest is poised to double its revenue this year to nearly $1 billion, according to a CNBC report from this summer, and has a valuation of $13 billion to $15 billion. In September, it announced it had 250 million monthly users, up from 200 million a year before.
2019 is expected to be a banner year for initial public offerings, with a roster of hopefuls including Uber, Lyft, Slack, and Airbnb.