Pinterest looking to raise $1.5bn

Pinterest, which is among a number of tech companies planning to go public this year, hopes to raise as much as $1.5 billion (£1.1bn) in its initial offering of shares.

The digital scrapbooking site said in a regulatory filing that it will put about 75 million shares up for sale at a price between $15 and $17 each.

At the higher end, that could put the value of the company at around $9bn (£6.9bn).