Pinterest reveals revenue growth in first public filing as it heads toward IPO

Pinterest has announced its plans for an initial public offering (IPO) and highlighted its fast revenue growth and shrinking losses as it heads towards a public listing.

The image sharing platform joins a whole line of technology companies looking to move into the public market and outlined its plans to the New York Stock Exchange on Friday.

The filing claimed the company wants a dual-class share structure that would allow current shareholders more control and also highlighted its 60 per cent increase in revenue year-on-year for 2018, increasing from $473m to $756m.

Meanwhile, net losses also halved last year to $63m from $130m the year before.

Pinterest did not include a price it wanted for shares, or how many would be available, but did list a $100m figure, often used as a place holder.

The social media platform was valued at more than $12bn at its most recent funding round, although that was in June 2017.

It is among a number of tech companies filing for IPOs, with ride-hailing service Lyft having already listed, with rival Uber finishing off paperwork to do the same in what is expected to be the biggest IPO of the year.

Others set to do follow suit are workplace messaging app Slack and holiday rental service Airbnb.