It looks like we are getting closer to a Pinterest IPO.

Here’s what we know so far about the Pinterest IPO plans, as well as some other details for potential investors to note.

• The company reportedly made a confidential IPO filing with the U.S. Securities and Exchange Commission (SEC).
• Reports claim that the company is looking for a minimum valuation of about $12 billion through its IPO.
• This matches the most recent valuation of the social media company.
• Other reports note that the company has already raised $1.50 billion to date.
• Reports claim that the company is aiming for a Pinterest IPO in June.
• With that in mind, the SEC will likely reveal the company’s IPO filing in May.
• Pinterest is refusing to comment on talk that it has filed a confidential IPO with the SEC.
• If the company goes through with an IPO, it will be comparable to Snap’s (NYSE:SNAP) Snapcaht app.
• Both social media services have an focus on sharing images and even have similar monthly active user numbers.
• Monthly active users for Pinterest is roughly 250 million, while Snapchat likely has about 265 million monthly active users.
• Pinterest also has strong growth potential with it gaining around 50 million new users every year.

You can follow these links to learn more about the Pinterest IPO and what it could mean for potential investors.

As of this writing, William White did not hold a position in any of the aforementioned securities.