Fortune News, April 18, the photo social networking site Pinterest successfully launched on the New York Stock Exchange, opening up 25%, with a market capitalization of more than $12.5 billion.

Previously, Pinterest had priced the IPO at $19, which was higher than the initial pricing guidance range of $15-$17. Pinterest's sale of 75 million shares will raise $1.43 billion, valuing it at about $10 billion, down from its peak of $12 billion two years ago. Its lead underwriters are Goldman Sachs Group, JPMorgan Chase & Co and Allen & Company.

The prospectus showsPinterest's revenue is growing rapidly, and although it is not yet profitable, its net loss is narrowing.The company's total revenue in 2018 was $756 million, up 59% from a year earlier; total revenue in 2017 was about $473 million, up 58% from a year earlier; and a net loss of $62.56 million in 2018 (Q4 has made a profit). The net losses in 2017 and 2016 were $130 million and $182 million, respectively.

(related information:Unicorn Pinterest is coming, can the self-lowering price get off to a good start?)