The Pinterest IPO

Acquired

Ben Gilbert and David Rosenthal

Venturecapital, Ma, Investing, Acquisitions, Startups, Vc, Investment, Business, Technology

4.8 • 2.9K Ratings

🗓️ 24 April 2019

⏱️ 102 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the second episode of our APLUSS(Z!) IPO saga, we dive into the history behind the planet’s largest non-social social network, Pinterest. From The Pirates of Silicon Valley to the bloggers of Salt Lake City, the creation story behind this “productivity tool for planning your dreams” is far from your typical unicorn journey. Once labelled as the “next Facebook” by investors and press, ten years later both Pinterest-the-product and Pinterest-the-company are in fact anything but. Whether that’s a good thing or a bad thing… tune in to find out!

Sponsors:
Vanta: https://bit.ly/acquiredvanta

Statsig: bit.ly/statsigacquired
Modern Treasury: https://bit.ly/acquiredmoderntreasury

Links

Pinterest’s S-1: https://www.sec.gov/Archives/edgar/data/1506293/000119312519083544/d674330ds1.htm
Fun photos of the Pinterest early days from Leslie Kincaid: https://www.dropbox.com/sh/azy9xtxtq5l6r3y/AAC68OhprmVbauZreHPyLbn5a?dl=0
Pinterest financial summary on Seeking Alpha: https://seekingalpha.com/article/4255230-know-pinterest-ipo

Carve Outs

Ben: Eugene Wei on the Invest Like The Best Podcast: http://investorfieldguide.com/wei/
David: A-Rod interviews George Springer: https://www.youtube.com/watch?v=QOqgxmG4yc8

Join the Acquired Limited Partner program! https://glow.fm/acquired/ (works best on mobile)

Transcript

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0:00.0	Oh, the users used to drop by the office.
0:03.0	That's so crazy to me.
0:05.0	I know, and the woman dressed up as pinches for Halloween.
0:08.0	Yeah.
0:10.0	And oh, here's ornaments for all of you. How many people work at your company? Great, I'll hand make you 25 ornaments.
0:16.4	I know, so great. Welcome to Season 4, episode 5 of Acquired, the podcast about technology acquisitions and IPOs.
0:38.0	I'm Ben Gilbert.
0:39.0	I'm David Rosenthal.
0:40.8	And we are your hosts. Today we are talking about a company that is not a
0:45.0	social media company or is it Pinterest? For context this is a company that has more
0:51.6	users than SNAP though a little bit less than Twitter,
0:54.4	is used by 80% of moms in America, and is actually a pivot of an early failed mobile shopping
1:01.2	app. But we will get into that. Indeed we will as always
1:06.1	here and acquired. This is episode 2 of the A-plus IPO saga we are proud to be
1:11.8	coming at you what two days here after trading.
1:15.0	We started trading on Thursday and then yesterday the stock market had the day off.
1:20.0	So we've got one day of data here and we'll be of course talking about the entire story of
1:26.4	Pinterest but had a nice little pop in the market as well that we'll touch on.
1:30.1	Yeah, we've got so far we have the P&L of the A-plus.
1:34.0	Indeed, indeed.
1:38.0	All right, so listeners, today we were talking about a company's exit,
1:41.0	and really that's what we do on every episode of this show but
	...

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