Home Investing New Pinterest CEO is a ‘terrific operator’: should you buy?

New Pinterest CEO is a ‘terrific operator’: should you buy?

by

New Pinterest CEO is a ‘terrific operator’: should you buy?

Ad disclosure

Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >

By:

Wajeeh Khan

on
Jun 29, 2022

Pinterest Inc CEO Ben Silbermann steps down; Bill Ready to take the helm.

Former Pinterest head Kamran Ansari reacts to the news on CNBC TechCheck.

Pinterest shares are down more than 45% versus the start of the year 2022.

Shares of Pinterest Inc (NYSE: PINS) are in focus after CEO Ben Silbermann who also co-founded the social media service in 2010 announced resignation.

Former Pinterest head reacts to the news

The $13 billion company named Bill Ready its new CEO. He has most recently served at Google. Commending on the news, Kamran Ansari – former Head of Development and Strategy at Pinterest said:


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Bill Ready is a terrific operator, has a nose for deals. I think he’ll try to drive the commerce part of the business, try to take it away from just search and discovery to execute the shopping vision of what the Pinterest platform could really be.

Earlier this month, Pinterest bought “The Yes” to expand its footprint in online shopping. The stock is down more than 45% for the year.

Ansari: ‘Pinterest is pretty high margin’

In April, the California-based company reported its financial results for the first quarter that topped Wall Street estimates. On CNBC’s “TechCheck”, Ansari said he expects the financial outperformance to continue.

They are still growing revenue quite a bit. I think the company is quite profitable; about $77 million of adjusted EBIT in the last quarter and I expect to see that continue because Pinterest is pretty high margin.

He’s convinced that Pinterest is very different from other social media companies like Twitter, Facebook, and Snap. Wall Street, on average, sees a more than 25% upside in the stock from here.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,
Capital.com

9.3/10

75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Visit site

Industries


North America


Services


Social Media


Stocks & Shares


Technology


USA


World


You may also like