Pinterest Inc. is seeking to raise as much as $1.28 billion in a U.S. initial public offering that could value the company below the amount it reached in its last private valuation.
The maker of online inspiration boards is offering 75 million shares for $15 to $17 apiece, according to a filing April 8. Based on the total number of Class A and Class B shares outstanding after the offering, if it priced at the top of the range, that would give Pinterest a market valuation of about $9 billion, according to data compiled by Bloomberg. Its fully diluted value could be higher.
