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Pinterest IPO Raises $1.4 Billion as It Shuns Social-Media Tag
- Digital scrapbook company tops targeted share price range
- Pinterest users seen by advertisers as more likely to buy
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Pinterest Inc.’s message to investors was don’t compare us to social media or a search engine. The outcome Wednesday was that it raised about $1.4 billion in an above-range initial public offering.
Pinterest operates in a crowded digital marketing space, where Google and Facebook Inc. get the lion’s share of ad dollars, and a smattering of smaller platforms like Twitter Inc. and Snap Inc. get the rest. The San Francisco-based company, which serves as a sort of digital bulletin board for pictures and ideas for furniture, fashion, weddings, recipes and more, has a direct line to millions of people who are looking for specific things to buy. That may give it an edge in making money from its user base compared with some of its peers.