Ben Silbermann, Founder and Chief Executive Officer of Pinterest, Get off From the top job on Tuesday after running and publishing the digital pinboard service for over 10 years.
Pinterest didn’t give a reason for the change. Mr. Silberman (39 years old) will be appointed chairman. Bill Ready, which operates departments within PayPal and Google, has been appointed as the new Chief Executive Officer of Pinterest.
Silberman helped establish Pinterest in 2010 and oversaw the growth of 431 million people, primarily women, to store and share shopping, hobbies and recipe ideas.Last year, the company Generated Revenue of $ 2.6 billion and profit of $ 316 million.
Silberman called his time leading Pinterest a “lifetime gift.” The company did not respond to requests for comment.
In 2019, he unveiled Pinterest in the so-called unicorn startup Stampede, which pioneered the public market and was highly acclaimed by individual investors.
Pinterest’s stock reached a high of $ 85 in February 2021 and closed at $ 19.70 on Tuesday, valuing $ 13 billion. This is slightly above its pre-publication value. The stock rose 4% in after-hours trading following the news that Mr. Silberman resigned as CEO.
Pinterest has built a reputation as a “nice” company that avoids Silicon Valley macho startup playbooks. This is also due to the female user base and Mr. Silberman’s press shy reputation. However, in recent years the company has been accused of talking about the experience of racism and sexism in the workplace.
2020, two former Pinterest employees, Ifeoma Ozoma When Shimizu Aerican BankTweet about racist and sexist comments and pay for the injustices and retaliation you have experienced in the company. Pinterest’s second executive, Françoise Brougher, has also accused sexism and retaliation. The event urged employees to perform a digital strike in protest. Shareholder proceedings continued.
Last year, entrepreneur and Silberman’s friend Christine Martinez also claimed to have helped create Pinterest with him and another founder, Paul Sciarra, for implicit breach of contract and ideas. I sued the company for theft.
Brougher’s proceedings resulted in a $ 22.5 million settlement. This includes a $ 2.5 million joint donation to a charity focused on women and people in the technology industry. Ozoma helped sponsor a new California law that extends protection for employees who speak about discrimination and harassment in the workplace.
