Business
Pinterest sets sites on $1.5B in first public share offering
Published
5 years agoon
By
FNN NEWSNEW YORK (AP) — Pinterest, among a gaggle of tech companies planning to go public this year, hopes to raise as much as $1.5 billion in its initial offering of shares.
The digital scrapbooking site said in a regulatory filing Monday that it will put about 75 million shares up for sale at a price between $15 and $17 each.
That, at the higher end, could put the value of the company at around $9 billion, below the estimated $12 billion value from earlier sales of shares to investors, according to reports two years ago.
Already, IPOs from tech companies have dominated headlines this year.
The arrival of Lyft late last month did little to diffuse questions about how best to value tech companies with tons of potential, but not much in the way of profits, at least not yet.
While Lyft has bounced back from a sell-off that dropped its shares well below its initial offering price, they remain below the heights reached in the flurry of first-day trading.
Uber, Lyft’s rival, the messaging app Slack and the video conferencing company Zoom are expected to make their debut soon.
Pinterest claims more than 250 million active monthly users and more than 2 billion monthly searches.
The platform allows people to search for and “pin” images that interest them, whether it’s fashion, sports, pets or travel.
Pinterest has long shunned the label of being a social network. It doesn’t push users to add friends or build connections. That means it’s avoided the privacy tangles that have ensnared companies like Facebook. Pinterest makes advertising revenue when businesses promote pins in users’ feeds.
The San Francisco company had revenue of $756 million last year, a 60 percent bump from 2017. It had a loss of $63 million in 2018, compared with a loss of $130 million in 2017.
Pinterest was founded in 2010 by Ben Silbermann and Evan Sharp, who are the company’s CEO and chief product officer, respectively.
The company has been working on developing its artificial intelligence search, which allows people to take a photo or upload a screenshot of an item and find similar products on Pinterest.
Pinterest’s stock will list on the New York Stock Exchange under the “PINS” ticker symbol.
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Business
FNN News names Janira Garcia its new Director of Corporate Partnerships, Sales and Marketing
Published
1 week agoon
March 8, 2024By
FNN NEWSORLANDO, Fla. (FNN) – Florida National News announced today the appointment of Janira Garcia as its new Director of Corporate Partnerships, Advertising Sales and Marketing.
Most recently, Garcia served as an associate editor of FNN News en Español, a sister news outlet of Florida National News. Her experience in news coverage and business development in Spanish will be key factors as FNN continue to expand.
“It’s an exciting time to be part of FNN, an innovative news outlet for a global audience,” Garcia said. “I believe my experience and expertise will allow me to build on the success FNN has already achieved in the last 10 years and will give me the opportunity to strengthen and expand our partnerships.”
“Janira is a proven leader with a rich and diverse background in our industry, and her strategic operations mindset will be vital in shaping the future of our company’s growth and success,” said J. Willie David, III, FNN’s president and CEO of Florida National News and FNN News Network.
In this role, she oversees Ad Sales efforts across the company’s Portfolio of brands and platforms, which includes Florida National News, FNN News Network, FNN Sports Network, FNN News en Español, FNN Politics & Power, FNN News TV, FNN News Media, FNN News and FNN Brand Partnerships. Garcia will report to Jenny Rosario, vice president of Florida National News and FNN News Network.
“We have a tremendous opportunity to accelerate our company growth through strategic partnerships and we’re excited to have Janira join our leadership team,” said Jenny Rosario, vice president of Florida National News and FNN News Network.
To learn more about Florida National News, visit FloridaNationalNews.com.
Business
March 7 Luxury Auction® Set for Caribbean Waterfront Estate on Grand Cayman
Published
3 weeks agoon
February 27, 2024By
FNN NEWSWEST BAY, Grand Cayman–(BUSINESS WIRE)–Luxury real estate auction house Platinum Luxury Auctions has announced another offering on the Caribbean island of Grand Cayman, Cayman Islands. On March 7, 2024, a waterfront residence once asking $12 million will now be sold to the highest bidder in a live, luxury auction® without reserve. In October 2022, Platinum auctioned an oceanfront home in Grand Cayman’s Savannah neighborhood for approx. $4.7 million. The firm is conducting the March 7th sale in partnership with Antonette Baptist of principal brokerage Provenance Properties Cayman Islands, the exclusive affiliate of Christie’s International Real Estate in the Cayman Islands.
On March 7, 2024, a waterfront residence once asking $12 million will now be sold to the highest bidder in a live, luxury auction® without reserve.
“Platinum continues to strengthen its relationships with the Caribbean’s leading real estate agents and luxury brokerages, like Antonette and the team at Provenance Properties,” said Trayor Lesnock, Platinum’s founder and president. “We’ll look forward to adding this pristine, waterfront estate on Grand Cayman to our roster of successful luxury auction sales in the Caribbean to date.”
The tri-level property is located in the boutique, waterfront community of Stone Island Residences, a private and gated residential enclave developed by Dart Enterprises, one of the Caribbean’s largest developers and the leader of luxury, residential development on Grand Cayman.
The community is ideally located, occupying a small island on Governors Creek Harbor, just across from the Cayman Islands Yacht Club & Marina. It’s within a short walk of Camana Bay and the renowned Seven Mile Beach. George Town, the Caymans’ capital city and financial hub, is just 10-15 mins south.
The property’s current owner worked with the developer during construction to create a unique, custom residence within the community that offers approx. 9,500 sf throughout 3 living levels, with 5 bedrooms (plus a convertible 6th), 8 full and one half-bath. The balance of the residences in the development are approx. 4,500 sf.
Interestingly, the residence has not yet been occupied since its completion in 2020, though it’s been kept in exceptional condition. “It presents as ‘brand new’ – not a single crack, scuff or dent,” stated Lesnock. The owner also spent $750,000 to furnish the property, and those (unused) furnishings will be included in the sale.
Prominent property features include a waterfront pool with adjacent loggia and summer kitchen, multiple balconies, gourmet kitchen with butler’s pantry, home theater, office, and a sleek elevator serving all levels.
Stone Island community amenities include a gated entry, 24-hr security, private boat slips, waterfront boardwalk, kids’ playground, infinity pool, waterside conservatory, and a luxe clubhouse.
Interested brokers and buyers may preview the property by daily appointment, between the hours of 11 am and 5pm (local time), now through March 6th. Appointments may be scheduled by contacting Platinum’s project manager, James Smith, at +1 800.997.4235. Property photos, video, and diligence documents are also hosted online at CaymanLuxuryAuction.com.
Business
January: Orlando Regional Relator Association (ORRA) 2024 Gala & Board Installation
Published
3 weeks agoon
February 24, 2024By
FNN NEWS