Pinterest is usually beefing up its management ranks ahead of an expected IPO filing sometime next year.
The company is usually hiring Facebook’s director of corporate development, Gary Johnson, to join PInterest as its head of corporate along with business development. Johnson will “focus on leading strategy for key global business initiatives along with growing along with scaling Pinterest’s corporate development along with business development teams,” according to a company announcement.
This kind of comes as sources say Pinterest plans to take steps next year to prepare for an IPO. Johnson will report to another important pre-IPO hire: Pinterest’s CFO Todd Morgenfeld, who was previously a finance VP at Twitter after working at Silver Lake Partners as well AS Goldman Sachs.
Pinterest was valued at $12.3 billion in its most recent fundraising round over the summer of 2017. of which round amounted to $150 million, which brings the total amount Pinterest has raised to nearly $1.5 billion. Pinterest is usually reportedly targeting $500 million in revenue This kind of year, as the idea expands its revenue streams with partnerships with Target as well as Samsung.
This kind of comes just a week after Pinterest’s president along with top business exec Tim Kendall announced he’s leaving at the end of the year. The company announced he’ll be replaced by Google veteran Jon Alferness, who joined the company This kind of past summer.