Pinterest Inc, the online scrapbook where users save ideas for clothes, décor and recipes, said on Wednesday it priced its initial public offering at $19 per share, above its $15-$17 target range.

At this price, Pinterest raised around $1.4 billion (1.1 billion pounds) at a roughly $12.6 billion valuation, taking into account restricted stock units and options.

The company is due to start trading on the New York Stock Exchange on Thursday under the symbol "PINS".

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The company reported annual revenue of $755.9 million in 2018, up 60 percent from a year earlier. But it remains unprofitable even though its net loss narrowed to $62.97 million in 2018 from $130 million a year earlier.

The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include Co-founder, President and Chief Executive Officer Benjamin Silbermann.