Visual social network Pinterest is looking to cash in on its success by filing an initial public offering, according to a report by the Wall Street Journal.
The company, which was launched in 2008, plans to launch the IPO in April next year. It plans to start tapping backers in January, and will use it’s estimated $12 billion valuation based on its last $150 million fundraising round, to help woo those potential investors.
Pinterest, which has been adding new features like the ability to make in app purchases and follow other members, has seen its monthly active user totals grow from 200 million to 250 million last year. It has thus far secured $1.5 billion in investor funding.
The company is also in talks to secure a $500 million line of credit, according to the WSJ report.