Pinterest valued at $12.7 billion in IPO, sign of tech demand after Lyft struggles
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NEW YORK (Reuters) - Pinterest Inc's initial public offering set the online scrapbook company's valuation at $12.7 billion (9.7 billion pounds) on Wednesday, above its expectations and a sign of strength for the tech IPO market after Lyft Inc's struggles.Pinterest, where users save ideas for clothes, décor and recipes, is due to start trading on the New York Stock Exchange on Thursday. Its performance will be a key test of the tech IPO market after the Nasdaq debut of ride-hailing start-up..