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Pinterest is talking to bankers and has hired a key exec as it readies itself for a 2019 IPO

<ul><li> Pinterest is in the process of talking to bankers as it seeks to choose underwriters for an early 2019 IPO, The Wall Street Journal reported. <li><li> The report comes on the heels of Pinterest hiring former Google and Alibaba exec <a itemtype="link" id="cb943a87-ed97-3dc4-a127-8ec442174b4e" itemscope="itemscope"> <meta content="https://www.linkedin.com/in/janepenner/" itemprop="url"> Jane Penner </a> as its head of investor relations, <a itemtype="link" id="1e840b7a-bb1f-3cf3-acf7-f7729018b52d" itemscope="itemscope"> <meta content="https://www.businessinsider.com/pinterest-hires-former-google-and-alibaba-head-of-investor-relations-2018-12?utm_source=intl&utm_medium=ingest" itemprop="url"> Business Insider first reported last week. </a> <li></ul>

<p class="">Pinterest is gearing up for an initial public offering as early as April 2019 and is in the process of talking to bankers as it seeks to choose its underwriters, <a href="https://www.wsj.com/articles/pinterest-readies-itself-for-early-2019-ipo-11545251368" id="f0159842-7f1e-38d4-a684-dfe3777c67b3"> The Wall Street Journal reported. </a></p>

<p class="">The company could be valued at more than $12 billion, sources told the Journal. That’s also the level at which Pinterest most recently raised funding.</p>

<p class="">The report comes on the heels of Pinterest tapping former Google and Alibaba exec <a href="https://www.linkedin.com/in/janepenner/" id="cb943a87-ed97-3dc4-a127-8ec442174b4e"> Jane Penner </a> to be its head of investor relations, <a href="https://www.businessinsider.com/pinterest-hires-former-google-and-alibaba-head-of-investor-relations-2018-12?utm_source=intl&utm_medium=ingest" id="7d738ada-01eb-3e94-aca4-85773c23b2ae"> as Business Insider first reported last week. </a></p>

<p class=""><strong> Read More: </strong> <a href="https://www.businessinsider.com/pinterest-hires-former-google-and-alibaba-head-of-investor-relations-2018-12?utm_source=intl&utm_medium=ingest" id="e0b3d385-bf82-3c2e-ae6f-7ef114ac2578"> Pinterest has nabbed Google and Alibaba’s former head of investor relations the biggest sign yet that it’s gearing up for a 2019 IPO </a></p>

<p class="">Pinterest has also contacted a number of banks for a credit line that could come in at around $500 million, according to the Journal.</p>

<p class="">Companies typically reach out to banks for lending in the run-up to an IPO to incentivize them to land a role on the offering. They also hire investor-relations executives a few months before going public.</p>

<p class="">Pinterest is poised to double its revenue this year to nearly $1 billion, <a href="https://www.cnbc.com/2018/07/20/pinterest-nearing-1-billion-in-ad-revenue-as-it-plans-to-ipo-mid-2019.html" id="cd0846de-05a2-3df4-a330-6b61aab0da66"> according to a CNBC report from this summer </a> , and has a valuation of $13 billion to $15 billion. In September, it announced it had 250 million monthly users, <a href="https://venturebeat.com/2018/09/10/pinterest-passes-250-million-monthly-active-users/" id="d4620a77-bfd2-355a-a9ed-b71d570f11c0"> up from 200 million a year before </a> .</p>

<p class="">2019 is expected to be a banner year for initial public offerings, with a roster of hopefuls including Uber, Lyft, Slack, and Airbnb.</p>

<p class="">NOW WATCH: <a href="https://www.businessinsider.com/cooked-entire-thanksgiving-dinner-using-google-home-hub-2018-11?utm_source=intl&utm_medium=ingest" id="49af75a6-d4db-3541-ac95-3d787d2544df"> I tried cooking an entire Thanksgiving dinner using Google Home Hub and found there are two major flaws with it </a></p>

<p class="">See Also:</p>

<ul><li> <a href="https://www.businessinsider.com/tech-startups-founders-predict-will-increase-most-in-valuation-2018-12?utm_source=intl&utm_medium=ingest">The 10 startups in the US whose valuations are set to increase the most, according to over 500 founders</a> <li><li> <a href="https://www.businessinsider.com/tech-ipo-outlook-2019-2018-11?utm_source=intl&utm_medium=ingest">Uber, Lyft, China, and more top tech investment bankers share their biggest hopes and fears for IPOs in 2019</a> <li><li> <a href="https://www.businessinsider.com/all-social-apps-russian-trolls-used-spread-disinformation-2018-12?utm_source=intl&utm_medium=ingest">Russia’s disinformation campaign wasn’t just on Facebook and Twitter. Here are all the social media platforms Russian trolls weaponized during the 2016 US elections</a> <li></ul>

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