Pinterest (PINS) IPO Opens Higher by 25%

Today's IPO for Pinterest, Inc. (NYSE: PINS) opened for trading at $23.75 after pricing 75,000,000 shares of its Class A common stock at $19.00 per share.

Pinterest is offering plus up to an additional 11,250,000 shares that the underwriters have the option to purchase.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Allen & Company LLC are serving as lead joint book-running managers for the offering. BofA Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and RBC Capital Markets, LLC. are also acting as book-running managers for the offering. Robert W. Baird & Co. Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC are serving as co-managers for the offering.

Pinterest is a visual discovery engine that more than 250 million people use every month to find inspiration for their lives—ideas ranging from dinner recipes, to home decor, to new outfits. People have saved more than 175 billion Pins across thousands of interests, which others can discover with search tools and personalized recommendations.

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