The 'better social network' is going to re-focus on commerce.
. He’ll be replaced by Bill Ready, who has spent the last couple of years as head of Commerce, Payments & Next Billion Users at Google. Silbermann isn’t leaving the company, though: he’ll be Pinterest’s executive chairman, following in the path of a number of tech CEOs who have recently gone from the daily trenches of running their company to a relatively more relaxed seat in the boardroom.
Pinterest has long seemed like a missed opportunity to investors. It’s a platform with hundreds of millions of users that isn’t growing that fast or making much money, even though most of those users spend their time searching for and pinning stuff they’d like to buy. Over the years, rather than compete with retailers and shopping platforms, it has become a hugely powerful discovery and curation engine for shoppers everywhere.
Ready, on the other hand, has a long track record of being ahead of the game in e-commerce. He was a top executive at both Venmo and PayPal before going to Google in 2020 to run its various commerce projects. Google Shopping definitely hasn’t taken over the world in the last two years, but Ready definitely had an impact: commerce became a core part of YouTube’s future, Google revamped the way Shopping works, and the company reinvested in its payment systems like Wallet.
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