Pinterest wants to sell its shares at between $15 and $17 when it goes public. That could value the company at nearly $12 billion.
Still, that is less than some recent private valuations of the company.
The IPO by Pinterest would follow the recent public offering by car service Lyft. Several other privately held start-ups worth at least $1 billion are also preparing offerings later this year, including Uber, Slack and Postmates.
Pinterest is a social media platform that lets people bookmark or “pin” images ranging from recipes to home designs.