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 (NYSE: 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.
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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