Pinterests new boss needs to generate significant revenue for the
Software

Pinterest’s new boss needs to generate significant revenue for the company quickly

Company Pinterest announcedthat its CEO, Ben Silbermann, will step down to be replaced by Bill Ready, who has led Google’s commerce, payments and “next billion users” division for the past two years. Mr. Silbermann will take the place of Executive Chairman of the Board of Directors.

    Image Source: Pete Linforth / pixabay.com

Image Source: Pete Linforth / pixabay.com

“In this new chapter [в истории компании] Bill will be a better CEO than me.”said Silberman. Wall Street Journal. All of this means that Pinterest is changing course dramatically, and the company’s new goal is to make a quick buck. For a long time, the service was considered a “missed opportunity” by investors: a platform with hundreds of millions of users without intensive growth and sufficiently high revenues. At the same time, most of the users spent their time tagging the products they want to buy. But instead of competing with online shops and marketplaces, the service was limited to pure search functions.

The platform has significant commercial potential — it can act as an online shopping mall where people can shop for brands from around the world, while Pinterest retains a share of sales. However, the service has never been in a hurry to implement it, has not quickly mastered the economics of content creators, and has lagged behind commercial innovation. The new CEO has extensive e-commerce experience, having worked as a top executive at PayPal and Venmo before joining Google in 2020, where he also oversaw commercial projects. Thanks to him, the operation of the Google Shopping service has changed, commercial capabilities have been added to YouTube, and the Google Wallet service has been revived.

Mr. Redi confirmed that he will start pushing Pinterest in this direction: users of the service will be able to do so “Get more deeply engaged with all the inspiring products and services they find on the platform”. Perhaps now is the right time — in addition to YouTube, e-commerce capabilities are popping up in Snapchat and Twitter, and those services need to actively compete.

About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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