Pinterest (NYSE: PINS) is a public company. Ben Silbermann’s virtual pinboard rose 25 percent in its NYSE debut, opening at $23.75 per share. Currently, shares of its stock are up another 2 percent, trading at more than $24 each.
The company priced its shares above range last night at $19 apiece. The IPO price gave the company a fully diluted market cap of $12.6 billion, a figure slightly larger than its Series H valuation of $12.3 billion.
After selling 75 million Class A shares, Pinterest has a fresh $1.4 billion of cash to navigate the trials and tribulations of being a public company.
Pinterest saw a boost in its debut despite concerns that Lyft’s poor performance on the stock market would cast a shadow on