NYSE wins Uber, Pinterest listings

25 March, 2019, 11:25 | Author: Regina Silva
  • Uber selects the New York Stock Exchange for its forthcoming mega IPO

The ride-hailing app and social media platform are both reportedly considering selling their shares on the New York Stock Exchange after completing their initial public offerings this year.

A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2017. Like its biggest rival Uber, also planning to go public this year, Lyft has yet to become profitable, with net losses amounting to $911 million in 2018. The final size will change.

Like Lyft, Pinterest plans to go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-Founder, President and Chief Executive Officer Benjamin Silbermann.

Reuters previously reported Pinterest could raise around $1.5 billion in the IPO, which is likely to come in the first six months of 2019.

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The companies and the NYSE declined to comment.

As one of two dominant ride-hailing companies, Lyft was used by more than 30 million people across North America past year, generating $8.1 billion in gross bookings and $2.2 billion in revenue.

The company said part of its strategy is to expand into new advertising markets, such as appealing to auto companies and financial services firms that want to reach its base of 250 million monthly active users.

Pinterest initially submitted its IPO plans confidentially.

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