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.