Pinterest's name can now be scratched off any potential list. CNET reported on November 6 that the popular photo-sharing website has no plans to join the ranks of other social media companies like Facebook FB and Twitter to become a public company.
According to CEO Ben Silbermann, an IPO is not in the works as he wants the company to “stand on its own two feet” and that going public might go against company interests in growing a user base.
CNET explained that the company does not have a clear revenue stream and has yet to prove if it can make money. The company is still in the early stages of experimenting with “promoted pins,” which can serve as a tool for advertisements.
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