U.S. Markets closed

Pinterest must spend at least $750 million on AWS through mid-2023

Jordan Novet

Pinterest will have to pay Amazon Web Services at least $440 million for cloud services usage over the next four and a half years to reach its minimum commitment. The disclosure in its IPO prospectus comes after Lyft said it's spending at least $80 million a year with AWS. In its IPO filing on Friday, Pinterest said that it's committed to spending at least $750 million on Amazon Web Services over the course of a six-year period that ends in July 2023.