2/21, 10:01 PM (Source: TeleTrader)
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Pinterest files for IPO, expects valuation at least $12B - report

Pinterest Inc. confidentially filed for an initial public offering with the Securities and Exchange Commission, the Wall Street Journal reported on Thursday citing people familiar with the matter.

The company hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. as underwriters and is considering going public in late June, according to the sources. Pinterest is expected to seek a valuation of at least $12 billion, the sources added.

Late last year, the company hired former Alibaba's executive Jane Penner as its head of investor relations, prompting speculations that it's preparing for an IPO.

Breaking the News / JC