Pinterest rose over 28% in New York IPO – target 250 million users

The US social commerce company Pinterest (PINS) listed today in the New York Stock Exchange. The stock rose over 28 % above its IPO price, valuing the company to nearly 13 billion dollars.

The IPOs of Pinterest and the video service company Zoom Video Communications (ZM) showed increased investor confidence after the disapointments related to the stock performance of the ride-hailing company Lyft (LYFT)  IPO  in the early April. According to Bloomberg, Lyft is trading down 19 % from its IPO price

This trend gives more momentum also to the second ride-hailing company Uber to list in May. Uber is expected to raise about 10 billion dollars, which would value the company at 100 billion dollars. Also Airbnb is in the pipeline.

Pinterest is serving its users like a digital platform for inspiring visual arts for fashion, weddings, recipes and more. This San Fransicso-based company is targeting more than 250 million monthly active users.

Business Finance Lifestyle Tech

Google and Microsoft – new video game streaming

Both big tech companies, Alphabet (GOOG:US)  with Google and Microsoft (MSFT:US), are on their way to build new video game streaming services for their customers. Google has “Project Stream” as a beta-version and Microsoft “Project XCloud” service. The idea in both of the services is to enable customers easy and working access to video game streaming.

-Scaling and building out Project xCloud is a multi-year journey for us. We’ll begin public trials in 2019 so we can learn and scale with different volumes and locations. Our focus is on delivering an amazing added experience to existing Xbox players and on empowering developers to scale to hundreds of millions of new players across devices, Microsoft comments.

Tech side is also experiencing a new event from Apple. According to company news, Apple (AAPL:US)  is having a new event at the end of October, 30th October, in New York. It is expected to cover news related to iPads and Macs.

Tech stocks have been performing well this year in the Wall Street and according to Bloomberg, Google´s one year return has been 8,78 percent, Microsoft´s 42,07 percent and Apple´s 36,88 percent.

 

Lifestyle Tech