Pinterest signaled to the market that it could be close as it hired its first Chief Financial Officer Todd Morgenfeld. Prior to joining the top ranks at Pinterest he was a finance VP at Twitter Inc TWTR and held stints at Goldman Sachs and the private equity firm Silver Lake Partners.
Morgenfeld was recruited to Twitter by its Chief Financial Officer Anthony Noto who is also a Goldman Sachs alumni. Morgenfeld's tenure at Twitter was relatively short at roughly a year and a half.
As noted by Recode, the hiring of a Chief Financial Officer could be seen as a "signal" that a company is planning an IPO. However, a spokesperson at Pinterest told Recode loud and clear, "[W]e don't have any plans for an IPO right now because we're focused on growing the business."
Pinterest exceeded that $100 million mark in annual revenue and was most recently valued at $11 billion.
Recode did, however, suggest that private companies typically don't discuss their IPO plans publicly, but it is "still worth thinking about."
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