Pinterest S-1
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Pinterest S-1
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Re: Pinterest S-1
#2"For the year ended December 31, 2018, we generated revenue of $755.9 million, as compared to $472.9 million for the same period in 2017, representing year-over-year growth of 60%. For the year ended December 31, 2018, we generated a net loss of $63.0 million and Adjusted EBITDA of $(39.0) million, as compared to a net loss of $130.0 million and Adjusted EBITDA of $(93.0) million, respectively, in the same period in 2017"
Re: Pinterest S-1
#3Pinterest continuing the trend of teach companies IPOing with dual class share structures:
"Following this offering, we will have two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock will be identical, except with respect to voting, conversion and transfer rights. Each share of Class A common stock will be entitled to one vote. Each share of Class B common stock will be entitled to 20 votes and will be convertible at any time into one share of Class A common stock."
Re: Pinterest S-1
#4"For the year ended December 31, 2018, we generated revenue of $755.9 million, as compared to $472.9 million for the same period in 2017, representing year-over-year growth of 60%. For the year ended December 31, 2018, we generated a net loss of $63.0 million and Adjusted EBITDA of $(39.0) million, as compared to a net loss of $130.0 million and Adjusted EBITDA of $(93.0) million, respectively, in the same period in…
Curious how this would change if R&D was capitalized. Of course it would just make ebitda a less accurate proxy for cash flow but we’d still be looking at it very differently.
Re: Pinterest S-1
#5Pinterest continuing the trend of teach companies IPOing with dual class share structures: "Following this offering, we will have two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock will be identical, except with respect to voting, conversion and transfer rights. Each share of Class A common stock will be entitled to on…
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Re: Pinterest S-1
#6Pinterest continuing the trend of teach companies IPOing with dual class share structures: "Following this offering, we will have two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock will be identical, except with respect to voting, conversion and transfer rights. Each share of Class A common stock will be entitled to on…
The Indicator podcast from Planet Money covered this topic this morning. If I remember the conclusion correctly it was that these sorts of dual class stock deals were on the way out...except for tech firms.
Re: Pinterest S-1
#7Pinterest continuing the trend of teach companies IPOing with dual class share structures: "Following this offering, we will have two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock will be identical, except with respect to voting, conversion and transfer rights. Each share of Class A common stock will be entitled to on…
This seems like a weird structure, why would anyone ever convert Class B stock to Class A?
Re: Pinterest S-1
#8Pinterest continuing the trend of teach companies IPOing with dual class share structures: "Following this offering, we will have two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock will be identical, except with respect to voting, conversion and transfer rights. Each share of Class A common stock will be entitled to on…
The verdict on dual class shares is not as unfavourable as is frequently made out in the press as attested to by a recent study in the Harvard Law School Forum on Corporate Governance and Financial Regulation:
"The limited empirical evidence on the technology and emerging growth companies that are the target of these regulations is insufficient to support the adoption of new regulations, as the evidence that is available indicates that the most recent group of dual-class companies may have performed as well, if not better, than those with a single class of stock". [0].
[0] https://corpgov.law.harvard.edu/2018/04/15/are-dual-class-co...
Re: Pinterest S-1
#9Pinterest continuing the trend of teach companies IPOing with dual class share structures: "Following this offering, we will have two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock will be identical, except with respect to voting, conversion and transfer rights. Each share of Class A common stock will be entitled to on…
This seems like a weird structure, why would anyone ever convert Class B stock to Class A?
The point of the structure is to maintain insider control, so when an insider want to sell some stock they do the conversation before selling to the public markets.
Re: Pinterest S-1
#10I didn't know pinterest was a thing, I'm not sure anyone in France use it, is that only used in the US?