Bill Ready will be the next Pinterest CEO after founder and ex-boss Ben Silbermann stepped down to assume the role of executive chairman.
The move indicates a significant shift in purpose as the company aims to start increasing revenue under Ready’s leadership. By way of track record, Bill Ready had led the department of Commerce, Payments & Next Billion Users at Google for some years. Before that, he was an executive at Venmo and PayPal.
His mandate will be to replicate his e-commerce success at Pinterest. Likely, this will mean leveraging the millions of users to turn the social media platform into a shopping destination.
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Speaking about what he plans to do, Ready posted on his LinkedIn page:
“In the next phase of our journey, we will help people engage more deeply with all the inspiring products and services they find on our platform so they can build their best lives. As someone who has spent most of my career in commerce and payments, it’s so clear to me that Pinterest has the opportunity to build something unique—something special.”
It is as good a time as any for Pinterest to start evolving because many social media sites have made it a pattern to ‘copy’ features, and it could soon find itself swallowed up by Meta’s Instagram.
Pinterest users should expect several new products and overhauls of older features as well. The platform is on the verge of exploring all the money-making avenues possible, and shopping may not be the only thing it will touch on. We can only anticipate what the Ready-led tenure will first announce.
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