Someone at Lyft owes Pinterest an apology. The online pinboard company has no doubt been waiting for its public debut since the startup was first conceptualized in 2009. Now that the day of the Pinterest IPO has nearly arrived, the company can thank ride-sharing play Lyft for spoiling the party.

Underwriters and the management team were left scrambling to slash the tech unicorn’s valuation at the worst possible time — heading into the Pinterest IPO. The online vision board company has no one to blame but Lyft, whose overpriced listing was met with tepid enthusiasm among investors, setting the stage

The post Shell-Shocked Pinterest Slashes IPO Target After Lyft Disaster appeared first on CCN

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