Pinterest's IPO valuation a sign of technology demand after Lyft's woes

A key difference between Pinterest and Lyft, however, were their valuation expectations

Pinterest’s initial public offering (IPO) set the online scrapbook firm’s valuation at $12.7 billion on Wednesday, above its expectations and a sign of strength for the tech IPO market after Lyft’s struggles.
 

Pinterest, where users save ideas for clothes, décor and recipes, was 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 firm Lyft in March-end.

Lyft raised more than it had