4/8, 12:25 PM (Source: TeleTrader)
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Pinterest targets IPO price between $15 and $17

Social media company Pinterest Inc. is targeting its initial public offering (IPO) price in the range $15-$17, according to a Security and Exchange Commission (SEC) filing. The company confidentially filed for an IPO with the SEC in February and it plans to be listed on the New York Stock Exchange under the symbol "PINS."

Pinterest hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. as underwriters as it aims to go public in June. The social media company is seeking a valuation at approximately $12 billion.

Pinterest prompts its users to "pin" items on the social platform boards for their friends and followers, to be able to share lists and pictures of commons interests such as clothing, food, and travel.

Breaking the News / SS