Pinterest Appoints Bill Ready CEO; Co-Founder and CEO Ben Silbermann Transitions to Executive Chairman

WEBWIRE



Today Pinterest announced that co-founder, Chief Executive Officer and President, Ben Silbermann will transition to the newly created role of Executive Chairman, and online commerce expert Bill Ready will become Chief Executive Officer and a member of the Board of Directors, effective June 29, 2022. See Press Release Here.


Ben sent an email to employees at Pinterest, which we are sharing below:


From: Ben


Date: Tuesday, June 28, 2022


Title: Help me welcome our new CEO, Bill Ready


Dear Team, 


After more than a decade running Pinterest, I’ve decided to move into a new role, Executive Chairman. While it feels a bit weird typing these words, more than anything, I’m excited because tomorrow our new CEO will be Bill Ready. I want to share how I came to this decision.   


One of my rituals to start every year is writing a list of ideas and aspirations for Pinterest. Some of those ideas turn into new products. Others result in acquisitions. This year, a top priority was identifying new leaders with skills that complement mine. 


I held time on my calendar every week to meet executives across a range of industries. Bill stood out. Over months of conversations and dinners, he impressed me with his insights, experience and values. Bill understands deep down that Pinterest is still early in its story. Over time, I decided he would be an outstanding CEO for our next chapter. Our board of directors met him and felt the same way. 


Most recently, Bill was President of Commerce, Payments & Next Billion Users at Google. Before that, he was Chief Operating Officer at PayPal, and CEO of both Braintree and Venmo. 


At his core, Bill is a builder. He has led small startups and global organizations. He deeply understands commerce and payments. And, he shares our passion for creating a positive corner on the internet—a place that enriches your real life instead of distracting you from it. 


As you can imagine, this was a hard decision. So much of my heart belongs to Pinterest. I guess you could call it a founder’s love. And, when you care about something so much, the natural instinct is to hold it as tight as you can. But often, the most loving thing to do is let it go and watch it flourish in new ways. That’s what is going to happen with Bill at the helm. 


I’m not leaving. Being executive chairman will let me focus on what I love: meeting Pinners, nurturing new products, and advising on long-term strategy. My new role reminds me a bit of what I did in the early days. 


When we started Pinterest, it was more art project than business. I knew most Pinners by their first name. We obsessed over every pixel, feature, and word in our product. I posted my cell phone number on our website to show there was a real person who cared about every user. Thank goodness for unlimited minutes! 


Today Pinterest has grown beyond anything I could have imagined. If our Pinner community were a country, it would be the third largest in the world. From Rotterdam to Louisville, folks have welcomed me into their homes to show how Pinterest inspired their lives. We have incredible new products in development that I can’t wait to ship. And remarkably, our little art project has even grown into a public company with billions of dollars in revenue and customers around the world.


Most meaningful to me, we’ve always remembered that behind all the metrics and dashboards, there are still real people who care deeply about every Pinner’s well being. Our most cherished value, Put Pinners First, is embedded in everything we do.


Sometimes people ask me: How did this all happen? Well, the answer is because of all of you. Pinterest wasn’t built by me. It was built by us. And, I love being part of this team. You are not only wildly talented, but also kind, creative and humble. Working with all of you continues to be the biggest gift of founding Pinterest.


One final thought. For our very first company offsite, I took our 12 person team to the Walt Disney Family Museum in San Francisco. We were so excited to need not just one, but TWO vans to get there—a true sign of growth. I wrote down one of Walt Disney’s quotes: “It’s kind of fun to do the impossible.” 


Working with you, I’ve learned firsthand that it is indeed fun to do the impossible. And with Bill as our CEO, I know that the fun is just getting started.


With all of my love and gratitude, 


Ben




PS: Tomorrow, Bill and I will be doing Q&A together. I hope to see you there so we can give him a warm welcome.

Pinterest is empowering women this season through the Pinterest Shop

To celebrate International Women’s Day, Pinterest has launched a brand new Pinterest Shop collection featuring 25+ women-founded small businesses and hundreds of products all made, designed or imagined by women. 

In addition, for the month of March, Pinterest has created an International Women’s Day fund and will match donations from employees to nonprofits helping women succeed like the National Domestic Workers Alliance and the Global Fund for Women. Because when women succeed, we all do. 

Working women were disproportionately hit by the COVID economic fallout. Last December, women accounted for 100% of U.S. jobs lost that month. There are even talks of a “Shecession”. Now, more than ever, they need support. 

Supporting small business has always been at our core, and in light of the COVID-19 crisis, this is more important as ever. Over the last year, Pinterest searches for “support small business” increased by 4.5x¹ as Pinners look for individual makers and companies to shop online.

“As a proud first generation American, I have spent my childhood going back and forth to Japan to visit relatives. My language skills are far from perfect, but I can walk down the streets of Harajuku in Tokyo or Soho in NYC and it all feels like home to me. Around the world, working women were the most affected by changes we saw in 2020 and so we launched the International Women’s Day Shop as a way to support and show our commitment to small businesses. Pinterest has always been the place to be inspired and discover new brands. We are thrilled to give these women-run businesses a platform to shine.” – Aya Kanai, Head of Content and Creator Partnerships, Pinterest. 

In this time of crisis, women are also turning to Pinterest to find inspiration on how to navigate change – searches for “women supporting women’’ increased by 2x, searches for “small business plan” increased by 50x and searches for “start a business from home” increased 4x. Boards created by women for “dream jobs” have increased by 10x² as they are looking to find new jobs, start a business or shift careers.