{"id":564,"date":"2016-10-05T00:17:10","date_gmt":"2016-10-05T00:17:10","guid":{"rendered":"http:\/\/www.rsoftsolution.com\/blog\/pinterest-hires-former-twitter-exec-todd-morgenfeld-as-its-first-cfo.html"},"modified":"2016-10-05T00:17:10","modified_gmt":"2016-10-05T00:17:10","slug":"pinterest-hires-former-twitter-exec-todd-morgenfeld-as-its-first-cfo","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/pinterest-hires-former-twitter-exec-todd-morgenfeld-as-its-first-cfo.html","title":{"rendered":"Pinterest hires former Twitter exec Todd Morgenfeld as its first CFO"},"content":{"rendered":"


\n<\/p>\n

Pinterest\u00a0has hired its first chief financial officer, Todd Morgenfeld \u2014 who was most recently vice president of finance at Twitter \u2014 the company said today. He was at Twitter for about a year and a half before joining Pinterest.<\/p>\n

Generally, these kinds of hires can signal a few things. One is that, more simply, the company is getting more ambitious about getting its finances in order (the company has around 40 people on its finance staff, according to a story in the Wall Street Journal<\/a>) for more general reasons. But sometimes the tea leaves reveal greater\u00a0ambitions: getting things\u00a0in order for a potential initial public offering.<\/p>\n

A representative from Pinterest said the company has \u201cno plans for an IPO right now, as we focus on growing the business.\u201d<\/p>\n

\u201cWe are excited that Todd is joining Pinterest as CFO,\u201d CEO Ben Silbermann said in a statement. \u201cTodd brings to the company a wide range of experience from HP to the military to a fast paced environment like Twitter. He believes in our mission and the strong business opportunity it presents. We are committed to building our company for the long term and thrilled that Todd will be an integral part of continuing this growth.\u201d<\/p>\n

Pinterest has been aggressively expanding its advertising and commerce tools as it looks to begin generating a healthy amount of revenue. In 2015, leaked documents showed Pinterest\u00a0was forecasting<\/a> around $169 million in revenue, as well as a forecast of $2.8 billion in annual revenue in 2018. The company was most recently valued at $11 billion in a financing round. Of course, these forecasts can change as the year progresses, and\u00a0the documents were released earlier last year.<\/p>\n

Still, things might be a little challenging for Morgenfeld. The Wall Street Journal\u00a0is also reporting that Pinterest generated roughly $100 million in revenue, which could mean it\u00a0fell\u00a0below the forecast laid out in the previously leaked documents. The company has released a large number of advertising tools as it looks to offer marketers an alternative option than Facebook and Google, banking on giving marketers access to multiple parts of the purchasing cycle.<\/p>\n

Twitter, too, was in a challenging position under Morgenfeld. The company since its initial public offering has had to deal with stalling growth and a frustrated Wall Street, as it tried to put together a strong business proposition that would keep it an independent company. Earlier this month it was revealed that a number of companies, including Salesforce and Alphabet, are looking at snapping up the company<\/a> as it might make sense in the context of a greater tech empire.<\/p>\n

(Obviously Morgenfeld wasn\u2019t running the show at Twitter, as Anthony Noto serves as the company\u2019s CFO.)<\/p>\n

The social media site has raised over $1.3 billion in capital from investors including SV Angel, Rakuten and Bessemer Venture Partners.<\/p>\n

<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/rOODRSOcnrI\/<\/p>","protected":false},"excerpt":{"rendered":"

Pinterest\u00a0has hired its first chief financial officer, Todd Morgenfeld \u2014 who was most recently vice president of finance at Twitter \u2014 the company said today. He was at Twitter for <\/p>\n","protected":false},"author":1,"featured_media":565,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[10,7,14,15,6,12,11],"class_list":["post-564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-update","tag-computer-news","tag-downloads","tag-microsoft-download-news","tag-networking-updates","tag-technology-update","tag-wordpress-plugin-download","tag-wordpress-theme-download"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t