Pinterest is beefing up its guidance ranks ahead of an expected IPO filing that could come as beforehand as next year.
The company is hiring Facebook’s director of corporate event, Gary Johnson, to join PInterest as its head of corporate and business increment. Johnson will “focus on leading strategy for key global business initiatives and reach and scaling Pinterest’s corporate development and business development teams,” concurring to a company announcement.
This comes as sources say Pinterest plans to make use of steps next year to prepare for an IPO. Johnson will report to another leading pre-IPO hire: Pinterest’s CFO Todd Morgenfeld, who was previously a finance VP at Peep after working at Silver Lake Partners as well AS Goldman Sachs.
Pinterest was valued at $12.3 billion in its most fresh fundraising round over the summer of 2017. That round amounted to $150 million, which brings the comprehensive amount Pinterest has raised to nearly $1.5 billion. Pinterest is reportedly aim $500 million in revenue this year, as it expands its revenue deluges with partnerships with Target as well as Samsung.
This arrives just a week after Pinterest’s president and top business exec Tim Kendall preceded he’s leaving at the end of the year. The company announced he’ll be replaced by Google veteran Jon Alferness, who butted the company this past summer.