Photo-bookmarking site Pinterest revealed its plans for an initial public offering in a filing on Friday, in which it reportedly aims to seek a valuation of at least $12 billion.

According to the S-1 filing, the San Francisco-based Pinterest had revenue of $755.9 million last year, up from $472.9 million in 2017. It had a net loss of $63 million last year, compared to a net loss of $130 million in 2017.

San Francisco-based Pinterest was valued at $12.3 billion after its latest fundraising round in June 2017.

The document notes that the company's CEO Ben Silbermann owns 31.2 million vested options, and the company has a dual share structure, common in Silicon Valley, which could mean that the cofounders will have voting control over the company despite owning less than half of the shares. Each cofounder was also granted 7 million restricted stock units (RSUs) on March 21.

Pinterest allows users to build photo collections online of fashion, recipes, furnishings or just about anything else. Pinterest shows "Pinners" visual recommendations, which the company calls Pins, based on their personal taste and interests. They then save and organize these recommendations into collections, called boards.

It has more than 250 million monthly active users, more than 2 billion monthly searches, and more than 175 billion pins saved, according to its filing.

Pinterest says that through its platform, businesses of all sizes and from many industries can achieve a diverse set of goals, from building brand awareness, to increasing online traffic, to driving sales.

Pinterest primarily makes money by attracting advertisers to its platform, where users create boards in which they self-identify their interests and through which advertisers can try and sell them products.

The company says is in the early stages of its monetization efforts. Today, Pinterest's advertising products help businesses reach Pinners across their decision-making journey. The company addresses various advertiser objectives through its Promoted Pin ad format, which contains either a single image, a carousel of images or video.

Pinterest plans to increase its presence in verticals such as automotive, technology, financial services, media and entertainment and travel. "We have also focused on working with SMBs. As we continue to invest in our self-serve platform, we expect our engagement with SMBs to continue to grow. Finally, we are expanding our international advertiser base, with an initial focus on Western Europe and other select markets to follow. Our international strategy targets engagement across advertiser scale and vertical focus. We are forging new and expanding existing relationships with large and mid-market advertisers to target key international markets, "the coompany says.

The company also disclosed that in the first quarter of 2018, Google “de-indexed” its keyword landing pages. That hurt online traffic and user growth in the following quarters, according to the filing.

Pinterest plans to list its shares as soon as April, according to reports. The share sale will be led by banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Allen & Co. Pinterest applied to list on the New York Stock Exchange under the ticker PINS.

Pinterest joins ride-hailing giants Uber and Lyft, on-demand delivery company Postmates, workplace communications platform Slack, and hotel and short-term home rental service Airbnb as one of the handful of Silicon Valley companies said to be planning an IPO this year.