• by Gavin O'Malley  @mp_gavin, October 4, 2016

Pinterest is bringing on Todd Morgenfeld -- formerly VP of finance at Twitter -- as its first Chief Financial Officer, the company announced Tuesday. Company cofounder and CEO Ben Silbermann touted Morgenfeld's "wide range of experience."

The hire is likely a sign that Pinterest is setting the stage for an IPO.

Regardless, Morgenfeld is joining the pin-based social network at a high point. The network reportedly expects to rake in $3 billion in revenue in 2018. If accurate, that would be dramatically higher than the roughly $100 million in revenue Pinterest reportedly took in last year.

To drive growth, Pinterest is pushing brands and businesses to set up Promoted Pins.

To encourage them to do so, the visual search and sharing network recently began rolling out a new “Promote” button with which brands and businesses can launch Promoted Pin campaigns in as little as nine seconds.

Once Pins have been “promoted,” partners can then review or edit their campaigns using Pinterest’s Ad Manager self-service ad tool. To help businesses create Pins tailored to their particular objectives, Pinterest also recently released a creative best practices guide.

For Pinterest, the change is part of an aggressive effort to sell brands on its potential.

Late last month, the company began giving advertisers new ways to target pinners, based the type of content they like, what they search, and other such indicators.  

As part of the change, the platform recently began inviting advertisers with a confirmed Web site to target users who have shown interest in their Pins. That includes saving one of their pins, clicking on them, or just tapping on one for a closer look.

Pinterest also made improvements to visitor retargeting, which is powered by a new Pinterest tag that identifies 10 events, including when people search, add a product to check out, and make a purchase on a businesses' Web site.

This summer, Pinterest hired Gunnard Johnson to head measurement science and insights. Johnson most recently served as head of quantitative ads research at Snapchat, and, prior to that, was the advertising research director for Google.

A few months ago, Pinterest enlisted Millward Brown Digital to measure the impact of its brand campaigns.