Recode: Pinterest's Recent Exec Hire Isn't A Sign Of Looming IPO

Pinterest signaled to the market that it could be close as it hired its first Chief Financial Officer Todd Morgenfeld. Prior to joining the top ranks at Pinterest he was a finance VP at Twitter Inc TWTR and held stints at Goldman Sachs and the private equity firm Silver Lake Partners.

Morgenfeld was recruited to Twitter by its Chief Financial Officer Anthony Noto who is also a Goldman Sachs alumni. Morgenfeld's tenure at Twitter was relatively short at roughly a year and a half.

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As noted by Recode, the hiring of a Chief Financial Officer could be seen as a "signal" that a company is planning an IPO. However, a spokesperson at Pinterest told Recode loud and clear, "[W]e don't have any plans for an IPO right now because we're focused on growing the business." Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Pinterest exceeded that $100 million mark in annual revenue and was most recently valued at $11 billion.

Recode did, however, suggest that private companies typically don't discuss their IPO plans publicly, but it is "still worth thinking about."

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