Pinterest hires former Twitter exec Todd Morgenfeld as CFO read more at here www.spinonews.com/index.php/item/1149-pinterest-hires-former-twitter-exec-todd-morgenfeld-as-cfo

Pinterest has hired its first CFO: Todd Morgenfeld, most recently a finance VP at Twitter who also spent time at Goldman Sachs and nine years at private equity firm Silver Lake Partners.

According to a story in The Wall Street Journal, Usually, these kinds of hires can signal a several points. 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.

A representative from Pinterest said the company has “no plans for an IPO right now, as we focus on growing the business.”

“We are excited that Todd is joining Pinterest as CFO,” CEO Ben Silbermann said in a statement. “Todd brings to the company a wide range of experience from HP to the military to a fast paced environment like Twitter. 

Read: Salesforce, Google, Microsoft Hold Talks To Acquire Twitter

Pinterest has been expanding its advertising and commerce tools as it looks to begin generating a healthy amount of revenue. Pinterest has raised over $1.3 billion in capital from investors. In 2015, leaked documents showed Pinterest was forecasting around $169 million in revenue, as well as a forecast of $2.8 billion in annual revenue in 2018.