Pinterest is beefing up its management ranks ahead of a great expected IPO filing sometime next yr.
The company is hiring Facebook’s director of corporate development, Gary Johnson, to become listed on PInterest as its head of corporate and business development. Johnson will “focus on leading technique for key global business initiatives and developing and scaling Pinterest’s corporate development and business development teams,” according to a company announcement.
This comes as sources say Pinterest plans to take steps next year to get ready for an IPO. Johnson will are accountable to another significant pre-IPO hire: Pinterest’s CFO Todd Morgenfeld, who was simply previously a financing VP at Twitter after operating at Silver Lake Companions together with Goldman Sachs.
Pinterest was valued in $12.3 billion in its latest fundraising round over the summertime of 2017. That circular amounted to $150 million, which brings the quantity Pinterest has raised to nearly $1.5 billion. Pinterest is certainly reportedly targeting $500 million in revenue this year, since it expands its revenue streams with partnerships with Concentrate on and also Samsung.
This comes just a week after Pinterest’s president and top business exec Tim Kendall announced he’s leaving by the end of the year. The company announced he’ll be replaced by Google veteran Jon Alferness, who joined the company this past summer.