Pinterest, Inc. (PINS) Pre-IPO report

Please download the full report for more information on the outline below.

Strengths & Opportunities:

• Pinterest is steadily growing its user-base and topline with ARPU increasing
• Losses are shrinking as the business scales
• Pinterest seems well-positioned to benefit from growing digital advertising spend

Risks & Concerns:

• Pinterest faces significant risks from increasing investments by Google, Amazon and other e-commerce players in visual search technology
• Salesforce and many other third-party technology providers are also now offering visual search features to facilitate ecommerce transactions
• Users in its most important market growing MSD to HSD
• Its growth engine, International market, is already slowing