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MarketWatch MarketPulseAug 21, 2019
Pinterest stock closes at record high, nears $20 billion market cap
Pinterest Inc. shares jumped more than 6% Wednesday, pushing them to record high prices and getting the young social-media company's market capitalization near $20 billion. Pinterest gained 6.4% Wednesday to $36.56, more than $2 higher than its earlier record close set last week. At that price, Pinterest is worth $19.84 billion, according to FactSet. Pinterest sold shares at $19 apiece in an April initial public offering, and shares have not sold for less than $23 in four months on the open market. Pinterest's performance on Wall Street stands in contrast to the other so-called decacorns, or startups valued at more than $10 billion by private investors, that have gone public this year: Lyft Inc. and Uber Technologies Inc. Both of the ride-hailing companies have only closed higher than their IPO prices twice apiece after going public in March and May, respectively. Another company with an eight-figure valuation from venture investors, The We Company , is expected to go public before the end of the year after filing for an IPO last week.

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