The online photo platform Pinterest has launched its IPO. The company filed a petition with the US Securities and Exchange Commission on Friday. The start-up from San Francisco intends to list its shares under the ticker symbol "PINS" on the New York Stock Exchange.

Initially, the company did not provide information on the date of the IPO, the number of shares to be issued or the price of the shares. In the recent round of financing, the company was valued at around twelve billion dollars.

With the proceeds of the new issue Pinterest wants to continue to invest in machine learning and visual search technologies. The photo service sees itself as a kind of digital search engine, in which users can search for ideas about interior design or vacations and find pictures to their interests. Money takes Pinterest mainly through advertisements. Founded in 2008, the company has approximately 265 million active users.

First time business figures

Last year, the photo community turned over $ 756 million, up 60 percent from the year-ago level of The net loss decreased to $ 63 million in 2018 from $ 130 million a year earlier.

A number of other prominent companies is planning to go to Wall Street later this year, including Uber, its rival Lyft, and the vacation rentals broker AirBnB. On Thursday, jeans maker Levi Strauss returned to the New York Stock Exchange after a 30-year absence.