Shares of Pinterest Inc. surged 25 percent in their debut on April 18, giving the online scrapbook company a market capitalization of $15.8 billion and signaling increased investor appetite for new tech listings.
The successful debut bodes well for the U.S. IPO market as it readies for the much-awaited listing of ride-hailing giant Uber Technologies, particularly after smaller rival Lyft Inc.’s struggles to hold onto its gains since its flotation earlier this month.
