NYSE wins Uber, Pinterest lists: sources

NEW YORK (Reuters) – Uber Technologies Inc and Pinterest, two of the highest profile internet companies that plan to go public this year, have chosen the New York Stock Exchange as the location for their inventory lists, according to sources familiar with the matter.

FILE PHOTO: Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, united states, September 22, 2017. REUTERS/Brendan McDermid

The companies and the NYSE declined to comment.

NYSE, the exchange of the choice of the NASDAQ for large technology companies in the past few years after the NASDAQ famous bumbled the Facebook IPO with huge technology errors. The exchanges compete fiercely for listing fees, and just like investment banks, often begin courting large companies long before they are ready for the list.

NASDAQ did the score of the IPO of the ride hailing company Lyft Inc., which could reach or exceed a $23 billion valuation for the prices of the shares as of 28 March. Lyft will be the first player to kick off a series of fierce anticipated public debut that will strengthen the IPO market after a quiet start of the year.

In a sign that investors desire for newly issued stock shares of Levi Strauss & Co. rose 31 percent in their debut on Thursday, making the jeans maker has a market value of $8.7 billion.

Bloomberg first reported the Uber news on Thursday, while the Wall Street Journal first reported the Pinterest news.

Uber, a global logistics and transportation company was recently valued at $76 billion in the private market, is seeking a valuation as high as $120 billion, although some analysts pegged the value closer to $ 100 billion on the basis of the selected financial figures has been released.

Pinterest, is the owner of the image search site known for food and fashion photos, was valued at $12 billion in the last fundraising round in 2017. The San Francisco-based company has grown rapidly since its inception in 2008, with 250 million monthly active users last September.

Pinterest monetizes its website by means of advertisements, which it places under the “pins” that users placed on the site.

Reuters reported earlier Pinterest could raise around $1.5 billion in the IPO, which will probably come in the first six months of the year 2019. The Wall Street Journal said on Thursday that the company would be able to reveal the IPO filing as early as Friday, and a list of the shares of mid-April.

Reporting by Liana B. Baker in New York and Joshua Franklin in New York; additional reporting by Carl O’donnell; editing by Leslie Adler

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.

Most popular