Pinterest sets IPO price range below 2017 valuation of $12B

US-based digital scrapbooking platform Pinterest has set a price range for its IPO, valuing it below its last private valuation of about $12 billion in 2017. It's offering 75 million shares for $15-$17. At the upper end, Pinterest could have about $11.3-billion market valuation and could raise about $1.3-billion net proceeds, accounting for restricted stock units and options, Reuters said.