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Report: Pinterest accelerates IPO process, plans to list by mid-April

U.S. online image search company Pinterest Inc., has accelerated its initial public offering process, The Wall Street Journal reported March 21, citing sources close to the matter.

Pinterest aims to go public on the New York Stock Exchange by mid-April, and make its IPO filing public as early as March 22, though the timing of the filing and IPO agenda might change, according to the report. The social media company plans to list with a dual-class structure to give current backers more votes per share, sources cited in the report said.

The startup, valued at US$12 billion in a 2017 funding round, confidentially filed to go public on the NYSE Feb. 22 and was originally targeting a late-June listing.

Meanwhile, ride-hailing startup Uber Technologies Inc. has also chosen the New York exchange for its April listing, and rival company Lyft Inc. is reportedly planning to list soon as well.