After three years as Pinterest’s
chief financial officer, Julia Donnelly will leave the social-discovery company in October as revenue growth is expected to slow following a string of strong quarterly reports.
During her time at Pinterest, the company has reported impressive revenue growth, surpassing $1 billion over the past two quarters and showing a
steady 18% year-over-year increase.
Global monthly active users also hit 640 million -- a record for the company -- marking the eleventh consecutive quarter of double-digit user
growth.
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Donnelly also oversaw the company’s investment in tvScientific, a performance advertising
platform allowing brands and apps to run CTV campaigns with direct access to Pinterest’s user base and expanding the company’s reach.
Next year, Pinterest plans to fully integrate tvScientific capabilities into its Performance+ AI-powered ad suite
for “a full-funnel search, social, and CTV platform performance solution,” per the company.
Pinterest’s cloud infrastructure deal with Amazon Web Services
was ushered in during Donnelly’s time at the company -- a $4 billion commitment through 2031 that is designed to advance Pinterest’s AI-powered visual-search experience.
Pinterest -- which is currently searching for a permanent replacement for Donnelly -- has named Vikram Naidu, the
company’s vice president of finance and business operations, as interim CFO.
Whoever steps into
Donnelly’s position will be responsible for helping to shape the company’s sizable tvScientific and AWS investments, while also managing a potential dip in revenue growth, considering an
expected drop next quarter.
In its Q2 earnings report, Pinterest informed investors that third-quarter
revenue could slow to 13%, partly due to increased ad-dollar competition with companies like Meta and Google, which control much larger portions of the global advertising market.
Donnelly is leaving to pursue an opportunity at a private company.
Pinterest’s shares fell
3.8% in after-hours trading on Friday, following news of the CFO’s planned departure.