Pinterest was the first company to IPO after the debacle that was the Lyft IPO. At the time they were unsure if the problem was that investors were sour on IPOs

Pinterest was the first company to IPO after the debacle that was the Lyft IPO. At the time they were unsure if the problem was that investors were sour on IPOs in general or if they were just sour on Lyft, that's why they discounted their valuation.