Pinterest, Inc.: Company Profile, Financials & Key Stats

Source: Pinterest, Inc. Notice of 2026 Annual Meeting & Proxy Statement and 2025 Annual Report on Form 10-K.

Quick Facts / Company Snapshot

Data Point	Disclosed Value / Fact
Official Corporate Name	Pinterest, Inc.
Ticker Symbol & Exchange	PINS (New York Stock Exchange)
State of Incorporation	Delaware
IRS Employer Identification No.	26-3607129
Corporate Headquarters	651 Brannan Street, San Francisco, California 94107
Chief Executive Officer	Bill Ready
Non-Executive Board Chair	Benjamin Silbermann
Lead Independent Director	Andrea Wishom
Chief Financial Officer	Julia Brau Donnelly
Chief Technology Officer	Matthew Madrigal
Chief Legal & Business Affairs Officer	Wanji Walcott
Independent Auditor	Ernst & Young LLP
Full-Time Employee Count	5,265 (as of December 31, 2025)
Fiscal Year 2025 Revenue	$4,221,767 thousand ($4,222 million)
Fiscal Year 2025 Net Income	$416,855 thousand ($417 million)
Fiscal Year 2025 Adjusted EBITDA	$1,269,976 thousand ($1,270 million)
Net Cash Provided by Operating Activities	$1,284,264 thousand ($1,284 million)
Fiscal Year 2025 Free Cash Flow	$1,251,889 thousand ($1,252 million)
Global Monthly Active Users (MAUs)	619 million (as of December 31, 2025)
Global Average Revenue Per User (ARPU)	$7.21 (FY 2025)

Source: Pinterest, Inc. 2026 Proxy Statement and Form 10-K for the Year Ended December 31, 2025.

Company Overview

Pinterest, Inc. operates an artificial intelligence-powered visual search and discovery platform positioned squarely at the intersection of digital search, social media, and commercial intent. The platform enables hundreds of millions of users worldwide to discover visual ideas, curate personal collections, plan lifestyle decisions, and purchase products directly from merchant catalogs and brand advertisers.

The company’s core operational mission is to bring everyone the inspiration to create a life they love. Unlike traditional consumer internet tools that depend strictly on text queries, Pinterest is built on visual discovery, allowing consumers to explore aesthetic concepts, recipes, home renovation plans, and wardrobe ideas even when they lack the precise vocabulary to describe what they are seeking.

• Global Monthly Active Users expanded to 619 million in fiscal 2025, marking a 12% year-over-year increase from 553 million in 2024.
• Annual revenue climbed to $4,222 million in 2025, delivering 16% year-over-year top-line expansion compared to $3,646 million in 2024.
• The platform is anchored by strong demographic engagement, with women representing roughly two-thirds of the total global user base and Generation Z accounting for over 50% of users.

The underlying technology architecture of Pinterest connects users, known as “Pinners,” with commercial content and lifestyle imagery through multi-session discovery journeys. Each interaction produces first-party behavioral signals that populate the company’s Taste Graph—a mapping of billions of associations among visual Pins, user boards, text queries, product links, and consumer profiles.

Commercial content serves as a foundational component of the user ecosystem rather than an intrusive interruption. Because more than 90% of searches on Pinterest are unbranded, users enter the platform in an early, open-minded discovery phase. Pinterest monetizes this intent by enabling retail, consumer packaged goods, and lifestyle brands to insert targeted advertisements across every tier of the purchasing funnel, transitioning consumer inspiration into measurable digital transactions.

Business Segments

Pinterest operates and manages its business as a single reportable operating segment: visual search and digital advertising services. The company organizes its operational resources, executive decision-making, engineering teams, and capital allocations around the development, maintenance, and monetization of its unified online discovery platform.

Digital Advertising and Visual Discovery Platform

The single operational segment encompasses all platform operations, infrastructure maintenance, artificial intelligence model training, and product monetization across mobile applications and desktop web interfaces. Substantially all of Pinterest’s revenue is derived from displaying digital advertisements to users across its international operating footprint.

Segment Name	FY 2025 Revenue ($ in thousands)	% of Total Revenue	Operational Scope
Digital Advertising Platform	$4,221,767	100.00% (Calculated by FirmsWorld)	Global visual search, personalized content curation, mobile applications, performance and brand digital ad delivery, catalog ingestion, and auction-based monetization systems.

Source: Pinterest, Inc. 2025 Form 10-K (Item 1 & Item 7).

• Total Segment Revenue reached $4,221,767 thousand in 2025, expanding from $3,646,166 thousand in 2024 and $3,055,071 thousand in 2023.
• Advertising serves as the primary monetization engine, with ad inventory priced and allocated dynamically through an auction-based delivery infrastructure.

Within this single segment, Pinterest delivers marketing solutions that span both brand awareness (upper-funnel objectives billed on impression or video-view metrics) and performance conversions (lower-funnel objectives billed on clicks or checkout actions). Resource allocation and performance tracking are evaluated on a consolidated global basis by the executive leadership team and Chief Executive Officer.

History and Evolution

Pinterest was founded in 2008 by Benjamin Silbermann and Paul Sciarra, who established the company to build a digital pinboard that let users collect, categorize, and share visual media online. Benjamin Silbermann served as Chief Executive Officer from 2008 until June 2022, steering the business through its private venture stages, platform expansion, and public market debut. In 2012, Silbermann assumed the additional title of President, leading product architecture and company culture.

• The company completed its initial public offering on April 23, 2019, listing its Class A common stock on the New York Stock Exchange under the ticker symbol “PINS”.
• In June 2022, Pinterest transitioned its executive leadership, appointing Bill Ready—former President of Commerce, Payments & Next Billion Users at Google—as Chief Executive Officer and a director.
• Following the 2022 transition, Co-Founder Benjamin Silbermann shifted into the role of Non-Executive Chair of the Board.

Under Bill Ready’s leadership beginning in mid-2022, Pinterest shifted from an image-sharing platform into an AI-powered visual search and personalized commerce ecosystem. The company upgraded its computer vision models, expanded direct-link ad capabilities, launched automated campaign tools like Pinterest Performance+, and developed lower-funnel shopping solutions to capture commercial intent.

In late 2025 and early 2026, Pinterest initiated structural and corporate transformations. In the fourth quarter of 2025, the company entered into a definitive agreement to acquire tvScientific, Inc., expanding its performance advertising capabilities. In the first quarter of 2026, management launched a global restructuring plan to reallocate engineering and operational resources toward AI-driven initiatives and sales transformations.

• On March 3, 2026, Pinterest entered into an investment agreement with Elliott Associates, L.P. and Elliott International, L.P. for the issuance of $1.0 billion in 1.75% Convertible Senior Notes due 2031.
• The $1.0 billion financing transaction closed on March 5, 2026, solidifying Pinterest’s liquidity profile.

Products and Services

Pinterest provides consumer-facing digital surfaces alongside enterprise advertising tools, monetizing user activity through paid marketing placements. The platform’s software is deployed globally through iOS and Android mobile applications as well as personal computer web browsers.

Product / Service Category	FY 2025 Disclosed Revenue	Monetization Mechanism	Primary User / Client Base
Digital Advertising Products (Standard, Video, Shopping, Carousel, Collection, Interactive, Premier Spotlight, Idea Ads)	$4,221,767 thousand (Substantially all revenue)	Auction-based pricing via CPM, CPV, CPC, CPA, and oCPM bidding models.	Global brand advertisers, retailers, performance marketers, direct-to-consumer businesses, and digital agencies.
Consumer Platform Surfaces (Home Feed, Search Page, Related Pins, Boards, Collages, Assistant)	Monitized via ad placements	Free consumer access; generates first-party Taste Graph signals.	619 million global Monthly Active Users exploring lifestyle, design, recipe, and retail ideas.

Source: Pinterest, Inc. 2025 Form 10-K (Item 1) and 2026 Proxy Statement.

Digital Advertising Formats

Digital advertising represents substantially all of Pinterest’s revenue ($4,221,767 thousand in 2025). Advertisers bid through an auction-based system across a spectrum of formats tailored for mobile and web screens:

• Standard Ads: Static image formats displayed vertically to showcase lifestyle concepts, products, and commercial imagery.
• Video Ads: Visually engaging motion formats that allow advertisers to capture user attention and tell narrative brand stories.
• Shopping Ads: Commercial catalog-driven units that showcase specific product details, pricing, and availability to users actively deciding what to buy.
• Carousel Ads: Multi-image or multi-video units enabling users to swipe through multiple creative assets within a single sponsored placement.
• Collection Ads: Hybrid ad creative combining lifestyle hero imagery or video with a product grid displayed underneath.
• Interactive Ads: Engaging ad units designed to prompt direct user participation, custom inputs, and dynamic visual interactions.
• Premier Spotlight Ads: High-impact, premium ad placements positioned prominently on the Pinterest Home Feed and search page for major launches.
• Idea Ads: Immersive, multi-page storytelling units created by brands or in partnership with creators to inspire user action.

Campaign Management and Automation Infrastructure

Pinterest provides advertisers with campaign management software via the Pinterest Ads Manager and the Pinterest API. These systems allow marketing teams to configure ad parameters, manage budgets, target demographic audiences, and adjust bids.

• Pinterest Performance+ operates as an AI-driven campaign suite that automates audience targeting, bidding strategies, and creative visual optimization.
• Direct Links and mobile deep links provide a seamless, one-click handoff from sponsored Pins directly into the merchant’s mobile application or checkout webpage.

Measurement and Attribution Solutions

To validate advertising return on investment, Pinterest offers first-party and partner-integrated measurement tools. These tools allow enterprise clients to track consumer actions through every stage of the funnel.

• Conversions API: A server-to-server data connection that allows advertisers to transmit conversion events securely, bypassing browser cookie restrictions.
• Data Clean Rooms: Privacy-preserving environments where advertisers can analyze their customer data alongside Pinterest platform signals.
• Third-Party Integrations: Measurement partnerships that enable brands to evaluate incremental sales lift and cross-channel performance attribution.

Consumer Visual Discovery Surfaces

Pinterest’s consumer application organizes visual media across four primary surfaces that capture user intent and generate engagement signals:

• Home Feed: The default landing surface featuring a personalized, algorithmic scrolling feed of Pins tailored to each user’s historical browsing, saving, and search patterns.
• Search Page: A discovery tool where users input queries; over 90% of searches are unbranded, providing opportunities for organic and sponsored discovery.
• Related Pins: A visual discovery surface triggered when a user taps a Pin, revealing visually similar items powered by computer vision algorithms.
• Boards and Collages: Personal organizational tools where Pinners curate, categorize, and save Pins for future projects, creating the associations that feed the Taste Graph.
• Pinterest Assistant: A visual-first AI collaborator designed to assist users in moving from inspiration to purchase.

Brand Portfolio

Pinterest maintains a targeted brand identity built around inspiration, utility, and user safety. The company’s trademark portfolio includes registered trademarks and applications for its name, logos, and proprietary application assets.

Brand Asset	Disclosed Financial Contribution	Core Function and Positioning
Pinterest	Generates substantially all of the company’s $4,222 million annual revenue.	Flagship visual discovery and shopping destination operating on web and mobile.
Shuffles	Not separately broken out; standalone creative collaging app.	Dedicated collage-making application allowing users to cut out and assemble interactive visual compositions.

Source: Pinterest, Inc. 2025 Form 10-K (Item 1 & Item 1A).

Pinterest Core Brand

The Pinterest brand represents the company’s primary consumer and business asset. Management positions the platform as an alternative to divisive social networks, focusing on personal inspiration, utility, and consumer safety. As of December 31, 2025, Pinterest held over 660 registered trademarks and pending trademark applications globally to safeguard its brand identity.

Shuffles

Shuffles is Pinterest’s mobile application designed for visual collaging and artistic expression. It enables users to isolate imagery elements, compile interactive moodboards, and share visual art. The company reports that its official Monthly Active User metrics exclude Shuffles users unless they independently qualify through activity on the core Pinterest platform.

Geographical Presence

Pinterest distributes its services worldwide, engaging 619 million monthly active users across more than 100 countries. The company reports its financial performance and user metrics across three geographic regions: the United States & Canada, Europe, and Rest of World.

Geographic Region	FY 2025 Revenue (inmillions)∣%ofTotalRevenue∣FY2024Revenue( in millions)	FY 2025 MAUs (in millions)	% of Total MAUs	FY 2025 ARPU ($)
U.S. & Canada	$3,173	75.15% (Calculated by FirmsWorld)	$2,884	105
Europe	$775	18.36% (Calculated by FirmsWorld)	$593	158
Rest of World	$224	5.31% (Calculated by FirmsWorld)	$169	356
Total Global	$4,222	100.00% (Calculated by FirmsWorld)	$3,646	619

Source: Pinterest, Inc. 2026 Proxy Statement (Performance Highlights) and Form 10-K.

United States & Canada

The United States and Canada region represents Pinterest’s most monetized geographic theater, generating $3,173 million in revenue during 2025—accounting for 75.15% of total company revenue (Calculated by FirmsWorld). The region concluded 2025 with 105 million monthly active users, expanding from 101 million in 2024.

• Average Revenue Per User in the U.S. and Canada reached $30.84 in 2025, an increase from $29.15 in 2024.
• The region accounts for the core corporate operations, executive leadership, and primary product engineering teams.

Commercial infrastructure and advertiser adoption are most mature in North America, with major retail brands deploying full-funnel advertising campaigns and catalog integrations.

Europe

Europe generated $775 million in revenue in 2025, up from $593 million in 2024, contributing 18.36% of Pinterest’s consolidated net revenue (Calculated by FirmsWorld). The European user base expanded to 158 million MAUs, up from 145 million in 2024.

• European Average Revenue Per User rose to $5.12 in 2025, compared to $4.24 in 2024.
• European operations operate under regulatory frameworks including the General Data Protection Regulation (GDPR) and the Digital Services Act (DSA).

The region represents a key international monetization opportunity as the company deploys sales teams and local partner reseller agreements to scale advertiser density.

Rest of World

The Rest of World geographic segment includes Latin America, the Asia-Pacific region, Africa, and the Middle East, generating $224 million in revenue in 2025 compared to $169 million in 2024. While contributing 5.31% of total corporate revenue (Calculated by FirmsWorld), it represents the largest and fastest-growing user demographic.

• Rest of World MAUs reached 356 million in 2025, accounting for 57.51% of Pinterest’s global user base (Calculated by FirmsWorld).
• Regional ARPU stood at $0.83 in 2025, up from $0.59 in 2024, reflecting an early stage of advertising monetization.

To monetize this extensive user volume without over-expanding direct operating headcount, Pinterest collaborates with regional third-party reseller organizations to sell ad inventory.

Profit and Loss

Pinterest achieved GAAP profitability in fiscal 2025, generating $416,855 thousand in consolidated net income on record revenues of $4,221,767 thousand. Top-line growth of 16% was driven by improvements in lower-funnel performance advertising, expanded ad auction efficiency, and double-digit active user growth.

• Consolidated revenue grew by $575,601 thousand year-over-year to $4,221,767 thousand in 2025.
• Adjusted EBITDA reached $1,269,976 thousand in 2025, delivering an Adjusted EBITDA margin of 30%.
• Net income margin finished at 10% in 2025, compared to 51% in 2024 (a period heavily impacted by a non-cash tax valuation allowance release).

The company’s earnings profile in 2024 was significantly elevated by a $1,597.0 million non-cash tax benefit resulting from the release of a valuation allowance on U.S. federal and state deferred tax assets. In 2025, operating performance reflected ongoing core business expansion.

Financial Metric ($ in thousands)	FY 2025	FY 2024	FY 2023
Revenue	$4,221,767	$3,646,166	$3,055,071
GAAP Net Income (Loss)	$416,855	$1,862,106	$(35,610)
GAAP Net Income (Loss) Margin	10%	51%	(1)%
Depreciation and Amortization	$25,151	$21,266	$21,509
Share-Based Compensation Expense	$880,463	$765,795	$647,860
Payroll Tax Related to Share-Based Compensation	$30,984	$30,787	$24,131
Interest (Income) Expense, net	$(110,493)	$(127,003)	$(105,439)
Other (Income) Expense, net	$(15,514)	$19,215	$(3,799)
Provision for (Benefit from) Income Taxes	$29,035[cite: 1] \vert{}$(1,574,501)	$19,170
Legal Settlement Expense	—	$34,650	—
Restructuring Charges	—	—	$126,882
Non-Cash Charitable Contributions	$13,495	—	$12,890
Adjusted EBITDA (Non-GAAP)	$1,269,976	$1,032,315	$707,594
Adjusted EBITDA Margin	30%	28%	23%

Source: Pinterest, Inc. 2026 Proxy Statement (Appendix A Reconciliation).

Share-based compensation remained a primary operating cost component, totaling $880,463 thousand in 2025. Net interest income contributed $(110,493) thousand to pretax earnings, supported by yields generated on the company’s corporate cash, cash equivalents, and marketable securities balances.

Balance Sheet and Capital Structure

Pinterest maintains a balance sheet marked by low funded debt during fiscal 2025 and an active equity capitalization base. The company supports its operations through accumulated liquidity and operating cash generation.

• In the fourth quarter of 2024, Pinterest released a $1,597.0 million valuation allowance on U.S. federal and state deferred tax assets.
• On March 3, 2026, the company entered into an investment agreement to issue $1.0 billion in 1.75% Convertible Senior Notes due 2031 to Elliott Associates, L.P. and Elliott International, L.P., closing on March 5, 2026.
• As of February 6, 2026, common stock outstanding consisted of 585,458,698 shares of Class A common stock and 79,679,925 shares of Class B common stock.

Capital and Equity Component	Disclosed Position / Parameters	Terms and Conversion Rights
Class A Common Stock	585,458,698 shares outstanding (as of Feb 6, 2026)	1 vote per share; par value $0.00001 per share; listed on the NYSE.
Class B Common Stock	79,679,925 shares outstanding (as of Feb 6, 2026)	20 votes per share; convertible share-for-share into Class A stock.
Convertible Senior Notes	$1,000,000 thousand aggregate principal	1.75% coupon; due 2031; issued to Elliott in March 2026.
2019 Omnibus Incentive Plan	47,672,428 shares to be issued on exercise	Weighted-average exercise price of $19.96 per option share.
Available Equity Plan Pool	186,410,561 shares remaining for issuance	Automatic annual replenishment of 5% on January 1 through 2029.

Source: Pinterest, Inc. 2025 Form 10-K and 2026 Proxy Statement.

The Class B shares carry high voting leverage (20 votes per share versus 1 vote per share for Class A), concentrating 35.75% of total stockholder voting power in the hands of executive officers and directors as of March 27, 2026. Under the company’s governing documents, Class B shares automatically convert to Class A stock on April 23, 2026 (the seven-year anniversary of the IPO), except for holders who maintain at least 50% of their pre-IPO shareholdings.

Cash Flow

Pinterest generated positive operational and free cash flow in fiscal 2025, providing capital to fund ongoing platform innovations and navigate macroeconomic volatility.

• Net cash provided by operating activities reached $1,284,264 thousand in 2025, up 33.14% from $964,594 thousand in 2024 (Calculated by FirmsWorld).
• Capital expenditures for property and equipment remained low at $32,375 thousand in 2025, reflecting the platform’s cloud-hosted infrastructure strategy.
• Free cash flow reached a record $1,251,889 thousand in 2025, expanding from $939,988 thousand in 2024 and $604,898 thousand in 2023.

The business demonstrates low capital expenditure intensity because it relies on Amazon Web Services (AWS) for its compute, storage, and data processing needs rather than developing proprietary physical data centers.

Cash Flow Measure ($ in thousands)	FY 2025	FY 2024	FY 2023
Net Cash Provided by Operating Activities	$1,284,264	$964,594	$612,961
Less: Purchases of Property and Equipment	$(32,375)	$(24,606)	$(8,063)
Free Cash Flow (Non-GAAP)	$1,251,889	$939,988	$604,898

Source: Pinterest, Inc. 2026 Proxy Statement (Appendix A Reconciliation).

Cash flow patterns show seasonal dynamics, with collections peaking in the first quarter following advertising campaign spend in the fourth-quarter holiday shopping period.

Board of Directors and Leadership Team

Pinterest maintains a twelve-member Board of Directors alongside an executive officer leadership team. Ten of the twelve board directors are independent under New York Stock Exchange governance standards.

Board of Directors

Director Name	Age	Director Since	Independence Status	Board Committee Assignments	Primary Occupation / Background
Benjamin Silbermann	43	2008	Non-Independent	None	Co-Founder and Non-Executive Chair, Pinterest; former CEO and President.
Bill Ready	46	2022	Non-Independent	None	Chief Executive Officer, Pinterest; former Google Commerce President; former PayPal COO.
Andrea Wishom	56	2020	Independent	Compensation, Governance	Lead Independent Director; former President, Skywalker Holdings; former Harpo Productions EVP.
Chip Bergh	68	2024	Independent	Governance (Chair), Compensation	Senior Lecturer, Harvard Business School; former President & CEO, Levi Strauss & Co.
Gokul Rajaram	51	2020	Independent	Compensation	Co-Founder and Partner, Marathon Management Partners; tech executive and advisor.
Emily Reuter	42	2025	Independent	Audit	Chief Financial Officer, Maplebear Inc. (Instacart); former Uber senior finance VP.
Marc Steinberg	36	2022	Independent	Audit	Partner, Elliott Investment Management L.P.; private equity and public equity investor.
Fredric Reynolds	75	2017	Independent	Audit	Former EVP & CFO, CBS Corporation; former Viacom and PepsiCo finance executive; CPA.
Scott Schenkel	58	2023	Independent	Audit (Chair)	Chief Financial Officer, Expedia Group; former Interim CEO and CFO, eBay Inc.
Kecia Steelman	55	2026	Independent	Compensation	President & CEO, Ulta Beauty, Inc.; consumer retail and operational leadership.
Leslie Kilgore	60	2019	Independent	Compensation (Chair)	Former Chief Marketing Officer, Netflix, Inc.; former marketing director, Amazon.com.
Salaam Coleman Smith	56	2020	Independent	Audit, Governance	Former EVP, Disney’s ABC Television Group; former President, Style Network (Comcast).

Source: Pinterest, Inc. 2026 Proxy Statement.

Profiles of Board Members

Benjamin Silbermann – Co-Founder and Non-Executive Chair

Benjamin Silbermann co-founded Pinterest and serves as Non-Executive Chair of the Board. He served as Pinterest’s Chief Executive Officer from 2008 until June 2022, and as President from 2012 to June 2022, guiding the company’s growth from an early-stage visual pinboard to a publicly traded technology firm. Prior to co-founding Pinterest, Silbermann worked at Alphabet Inc. (Google) from 2006 to 2008. He holds a Bachelor of Arts in Political Science from Yale University and currently serves on the board of The How We Feel Project.

Bill Ready – Chief Executive Officer and Director

Bill Ready has served as Chief Executive Officer and a Director of Pinterest since June 2022. Before joining Pinterest, Ready served as President of Commerce, Payments & Next Billion Users at Alphabet Inc. (Google) from January 2020 to June 2022. Prior to Google, he spent several years in executive roles across the fintech industry. He served as CEO of Braintree and Venmo, continuing as PayPal’s Senior Vice President and Global Head of Product & Engineering after its acquisition, and later serving as PayPal’s Executive Vice President and Chief Operating Officer from October 2016 through July 2019. Ready also serves on the boards of Williams-Sonoma, Inc. and Visa, Inc., and is a senior advisor and limited partner at Silversmith Capital Partners. He holds a Bachelor of Science in Information Systems and Finance from the University of Louisville and an MBA from Harvard Business School.

Andrea Wishom – Lead Independent Director

Andrea Wishom has served on the board since 2020 and serves as Lead Independent Director. She served as President of Skywalker Holdings LLC, a private investment firm and family office, from 2017 to 2026, overseeing over a billion dollars in assets across business units, finance, and philanthropic initiatives. Prior to Skywalker, Wishom spent over two decades at Harpo Productions, serving in executive roles including Executive Vice President for The Oprah Winfrey Show, Harpo Studios, and OWN: The Oprah Winfrey Network. She serves on the boards of Tory Burch LLC and Inflection AI, and previously served on the board of Nextdoor Holdings, Inc.. Wishom holds a Bachelor of Arts in English from the University of California, Berkeley.

Chip Bergh – Independent Director

Chip Bergh joined the board in 2024 and serves as Chair of the Governance Committee and a member of the Compensation Committee. Bergh has been a Senior Lecturer at Harvard Business School since July 2024. He previously served as President, Chief Executive Officer, and Director of Levi Strauss & Co. from 2011 to 2024. Prior to Levi Strauss & Co., Bergh spent 28 years at Procter & Gamble (P&G) in various brand management and executive leadership roles. He serves as Non-Executive Chair of HP, Inc., and sits on the boards of e.l.f. Beauty, Inc. and lululemon athletica inc., having previously served on the boards of VF Corporation and the Economic Development Board of Singapore. Bergh earned a Bachelor of Arts in International Affairs from Lafayette College.

Gokul Rajaram – Independent Director

Gokul Rajaram joined the Pinterest board in 2020 and serves on the Compensation Committee. He is Co-Founder and Partner of Marathon Management Partners, an investment firm he co-founded in January 2025. Rajaram held leadership roles at DoorDash from 2019 to 2024, most recently as Corporate Development and Strategy Lead. From 2013 to 2019, he served on the executive team at Block, Inc. (Square), leading product development for Caviar. Prior to Block, Rajaram served as Product Director of Ads at Meta, Inc. and Product Management Director for Google AdSense. He currently serves on the board of Coinbase Global, Inc. and previously served on the board of The Trade Desk, Inc.. Rajaram holds a Bachelor of Computer Science from IIT Kanpur, a Master of Computer Science from the University of Texas at Austin, and an MBA from the Massachusetts Institute of Technology.

Emily Reuter – Independent Director

Emily Reuter was appointed to the board in September 2025 and serves as an Audit Committee Financial Expert. Reuter has served as Chief Financial Officer of Maplebear Inc. (Instacart) since 2024. Prior to Instacart, she spent nearly a decade at Uber Technologies, Inc. in senior financial leadership positions, including Vice President and Head of Corporate Finance, and Chief Financial Officer of Uber’s Mobility (Rides) operating segment. She holds a Bachelor of Arts from Yale University and an MBA from the Stanford University Graduate School of Business.

Marc Steinberg – Independent Director

Marc Steinberg has served as a director since 2022 and sits on the Audit Committee. He is a Partner at Elliott Investment Management L.P., where he oversees public and private equity investments across technology, media, and telecommunications. Steinberg serves on the board pursuant to the investment agreement entered into between Pinterest and Elliott in March 2026. He sits on the boards of Honeywell International, Inc., Etsy, Inc., Nielsen, and Syneos Health. Prior to joining Elliott in 2015, Steinberg worked in investment banking at Centerview Partners. He holds a Bachelor of Arts in Economics from Harvard College.

Fredric Reynolds – Independent Director

Fredric Reynolds joined the board in 2017 and serves on the Audit Committee as an Audit Committee Financial Expert. Reynolds served as Executive Vice President and Chief Financial Officer of CBS Corporation from 2006 to 2009. From 2001 to 2005, he was President and CEO of Viacom Television Stations Group, and served as Executive Vice President and CFO of Viacom Inc. from 2000 to 2001. He was previously EVP and CFO of Westinghouse Electric Corporation and spent twelve years at PepsiCo in senior financial roles, including CFO positions at Pizza Hut, Pepsi-Cola International, KFC Worldwide, and Frito-Lay. Reynolds serves as Lead Director at RTX Corporation and previously served on the boards of MGM Holdings Inc. and Mondelez International. He holds a B.B.A. from the University of Miami and is a Certified Public Accountant.

Scott Schenkel – Independent Director

Scott Schenkel joined the board in 2023 and serves as Chair of the Audit Committee and an Audit Committee Financial Expert. Schenkel has served as Chief Financial Officer of Expedia Group, Inc. since December 2024. He previously served as Interim CEO and Director of eBay Inc. from September 2019 to April 2020, and as eBay’s Senior Vice President and Chief Financial Officer from 2015 to 2019. Schenkel spent six years prior as CFO of eBay Marketplace after joining the company in 2007 as VP of Global FP&A. Prior to eBay, he spent 17 years at General Electric Company, concluding as CFO of GE Healthcare Clinical Systems. Schenkel previously served on the boards of NetApp and Forter. He holds a Bachelor of Science in Finance from Virginia Polytechnic Institute and State University.

Kecia Steelman – Independent Director

Kecia Steelman joined the board in February 2026 and sits on the Compensation Committee. Steelman serves as President and Chief Executive Officer of Ulta Beauty, Inc., where she previously held multiple executive leadership roles. Prior to Ulta Beauty, Steelman served as Group Vice President and Vice President of Project Implementation & Operations at Family Dollar, and previously held leadership positions at Home Depot. She serves on the boards of Ulta Beauty, Inc., the Bay Club Company, the Retail Industry Leaders Association, the Adler Planetarium, and the Breast Cancer Research Foundation. Steelman holds a Bachelor of Business Management from Kennedy Western University.

Leslie Kilgore – Independent Director

Leslie Kilgore has served on the board since 2019 and serves as Chair of the Compensation Committee. Kilgore served as Chief Marketing Officer of Netflix, Inc. from 2000 to 2012. Prior to Netflix, she served as Director of Marketing at Amazon.com from 1999 to 2000, and held brand management roles at The Procter & Gamble Company from 1992 to 1999. Kilgore sits on the boards of Netflix, Inc. (where she chairs the compensation committee) and Discord Inc., having previously served on the boards of Nextdoor Holdings, Inc., Medallia, Inc., and LinkedIn Corp.. She holds a Bachelor of Science from the Wharton School at the University of Pennsylvania and an MBA from Stanford GSB.

Salaam Coleman Smith – Independent Director

Salaam Coleman Smith has served on the board since 2020 and sits on the Audit and Governance committees. Smith served as Executive Vice President at The Walt Disney Company’s ABC Television Group from 2014 to 2016, overseeing strategy and programming for ABC Family. Prior to Disney, she worked at Comcast NBCUniversal from 2003, serving as President of Style Network from 2008 to 2013. Smith also spent nearly a decade at Viacom Inc., working as a senior executive within MTV Networks International and Nickelodeon. She previously served on the boards of Gap, Inc. and Scopely. Smith holds a Bachelor of Science in Industrial Engineering from Stanford University.

Executive Officers

Executive Name	Age	Current Position	Prior Experience and Credentials
Bill Ready	46	Chief Executive Officer	President of Commerce at Google; COO at PayPal; CEO of Braintree & Venmo; MBA from Harvard Business School.
Julia Brau Donnelly	43	Chief Financial Officer	VP Global Head of Finance at Wayfair; PE Investor at Thomas H. Lee Partners; MBA from Harvard, B.A. from Stanford.
Matthew Madrigal	50	Chief Technology Officer	VP & GM Merchant Shopping at Google; CTO/CPO at Fanatics; SVP at Williams-Sonoma; B.A. from UC Berkeley.
Wanji Walcott	55	Chief Legal & Business Affairs Officer and Secretary	Chief Legal Officer at Discover Financial; General Counsel at PayPal; SVP Managing Counsel at AmEx; J.D. from Howard.

Source: Pinterest, Inc. 2026 Proxy Statement.

Julia Brau Donnelly – Chief Financial Officer

Julia Brau Donnelly has served as Chief Financial Officer of Pinterest since June 2023. Prior to joining Pinterest, Donnelly served as Vice President and Global Head of Finance and Accounting at Wayfair Inc. from September 2019 to June 2023, where she managed corporate finance, accounting, and financial operations. She held roles at Wayfair as Head of Corporate Finance from 2017 to 2019, and Director of Strategic Finance and Investor Relations from 2016 to 2017. Earlier in her career, Donnelly was a private equity investor focusing on technology and media at Thomas H. Lee Partners, serving on the boards of Agencyport Software and iHeartMedia. She holds a Bachelor of Arts in Economics from Stanford University and an MBA from Harvard Business School.

Matthew Madrigal – Chief Technology Officer

Matthew Madrigal has served as Chief Technology Officer since September 2024, leading product platform architecture, engineering operations, and machine learning infrastructure. Prior to Pinterest, Madrigal served as Vice President and General Manager of Merchant Shopping at Alphabet Inc. (Google) from 2020 to 2024, leading engineering and product teams building Google Shopping tools and infrastructure. From 2014 to 2020, he served as Chief Technology and Product Officer at Fanatics, Inc., directing mobile and data capabilities. Prior to Fanatics, Madrigal spent nearly four years at Williams-Sonoma, Inc. as Senior Vice President of eCommerce & Marketing, following eight years directing product and engineering for eBay’s growth marketing and advertising technology platforms. He serves on the board of Tapestry, Inc. and holds a Bachelor’s degree from the University of California, Berkeley.

Wanji Walcott – Chief Legal & Business Affairs Officer and Corporate Secretary

Wanji Walcott has served as Chief Legal & Business Affairs Officer and Corporate Secretary since November 2022. She oversees legal affairs, government relations, and compliance. Prior to Pinterest, Walcott served as Executive Vice President and Chief Legal Officer at Discover Financial Services from July 2019 to October 2022. Before Discover, she served as Senior Vice President and General Counsel at PayPal Holdings, Inc. from February 2017 to July 2019, having joined PayPal as Vice President of Product Legal in 2015. From 2002 to 2015, Walcott served in various legal roles at American Express, concluding as Senior Vice President and Managing Counsel. She serves on the boards of the Economic Club of Chicago, the Botanic Garden of Chicago, the Minority Corporate Counsel Association, and The Frederick Gunn School. Walcott holds a Bachelor of Arts in Philosophy and a Juris Doctor from Howard University.

Physical Properties

Pinterest operates its corporate footprint through leased facilities, opting not to own real estate. The company conducts core management and administrative activities from its headquarters in northern California.

Property Location	Operating Function	Leased / Owned Status
651 Brannan Street, San Francisco, California 94107	Principal Executive Offices and Corporate Headquarters	Leased

Source: Pinterest, Inc. 2025 Form 10-K (Item 2).

Pinterest supports its workforce via “PinFlex,” a hybrid operating framework allowing eligible personnel to perform their duties from corporate offices or approved remote domestic locations. The company leases additional regional facilities across international jurisdictions, continually reviewing its office footprint as part of restructuring and efficiency initiatives.

Founders

Pinterest was founded in 2008 by Benjamin Silbermann and Paul Sciarra. The founders built the initial platform to organize visual discoveries and curate lifestyle concepts online.

• Benjamin Silbermann directed platform strategy and operations as Chief Executive Officer from 2008 until June 2022, and as President from 2012 to June 2022. He continues to guide long-term product planning as Non-Executive Chair of the Board.
• Paul Sciarra co-founded the business, contributing to its early design, and retains an equity ownership position.
• As of March 27, 2026, Benjamin Silbermann holds 36,911,603 shares of Class B common stock, representing 46.32% of Class B shares and 35.33% of total company voting power.
• As of March 27, 2026, Paul Sciarra holds 32,589,537 shares of Class B common stock through trusts and entities, representing 40.90% of Class B shares and 31.19% of total company voting power.

The founders retain significant collective voting control over Pinterest through their high-vote Class B shareholdings.

Investments and Capital Expenditure Plans

Pinterest’s capital deployment strategy prioritizes investments in artificial intelligence infrastructure, machine learning models, lower-funnel advertising automation, and user safety systems. The company maintains low physical property additions by operating on third-party cloud infrastructure.

• Purchases of property and equipment totaled $32,375 thousand in 2025, compared to $24,606 thousand in 2024 and $8,063 thousand in 2023.
• During Q1 2026, the company initiated a restructuring plan to reallocate internal resources directly toward AI-focused development teams and automated go-to-market workflows.
• In Q4 2025, the company announced an agreement to acquire performance-marketing platform tvScientific, Inc. to extend its advertising technology footprint.

The company directs capital toward developing computer vision technology, expanding catalog ingestion for merchants, and deploying its Pinterest Performance+ advertising suite. Through the Pinterest Impact Fund, the company has also invested $40 million to date, including nearly $10 million in 2025, into nonprofit initiatives focused on youth emotional wellbeing and mental health.

Shareholding Pattern

Pinterest’s capital structure consists of two classes of common stock: Class A common stock, entitled to one vote per share, and Class B common stock, entitled to 20 votes per share. This dual-class structure gives founders and early insiders voting control over corporate decisions submitted to stockholders.

Stockholder Identity / Classification	Class A Common Shares Owned	% of Class A Shares	Class B Common Shares Owned	% of Class B Shares	% of Total Voting Power
Benjamin Silbermann (Co-Founder & Chair)	8,414	*	36,911,603	46.32%	35.33%
Paul Sciarra (Co-Founder)	—	—	32,589,537	40.90%	31.19%
The Vanguard Group	60,147,395	12.12%	—	—	2.88%
BlackRock, Inc.	59,584,440	12.01%	—	—	2.85%
Bill Ready (Chief Executive Officer)	8,719,450	1.73%	—	—	*
All Directors and Executive Officers as a Group (16 persons)	9,591,705	1.90%	37,018,441	46.46%	35.75%

*Represents beneficial ownership or total voting power of less than one percent.

Percentages are based on 496,121,510 shares of Class A common stock and 79,679,925 shares of Class B common stock outstanding as of the March 27, 2026 record date.

Source: Pinterest, Inc. 2026 Proxy Statement.

The high-vote Class B stock held by founders Benjamin Silbermann and Paul Sciarra accounts for 66.52% of total combined voting control (Calculated by FirmsWorld). Institutional holders Vanguard (12.12% of Class A) and BlackRock (12.01% of Class A) hold 2.88% and 2.85% of total voting power, respectively, due to the 20:1 voting ratio between share classes.

Future Strategy

Management’s operational strategy centers on transforming Pinterest from an image-bookmarking site into an AI-driven visual search and full-funnel shopping platform. This roadmap focuses on converting user inspiration into digital commercial transactions.

• AI-Powered Visual Search: Deploying visual machine learning algorithms to index over 5.4 billion images, enabling visual discovery and features such as body type search and Pinterest Assistant.
• Performance Advertising Expansion: Scaling Pinterest Performance+ to automate targeting, bidding, and ad creative delivery for direct-response brand advertisers.
• Catalog Ingestion and Seamless Checkout: Expanding merchant catalog integrations and Direct Links to enable one-click transitions from ad inspiration to retailer checkout.
• International Monetization: Increasing global monetization rates by expanding reseller partnerships and digital ad delivery across Europe and Rest of World markets.
• Operational Reallocation: Implementing the Q1 2026 restructuring plan to reallocate headcount and engineering resources toward AI-focused teams.

Management also emphasizes platform safety as a competitive advantage. Deliberate policy actions—such as making profiles private-by-default for users under 16, disabling social features for minors, and supporting app-store-level age verification—are designed to maintain a brand-safe environment for retail advertisers.

Key Strengths

Pinterest’s operational model is supported by structural platform strengths disclosed in its annual regulatory filings:

• High Commercial Intent: More than 90% of searches on the platform are unbranded, allowing retail advertisers to reach consumers early in their purchase journey.
• Differentiated Demographics: With approximately two-thirds of users identifying as women and over 50% representing Generation Z, Pinterest maintains an audience attractive to commercial brands.
• Proprietary Taste Graph: Billions of user interactions, saves, boards, and visual searches create a proprietary behavioral data set that powers AI-driven recommendations.
• Expanding Profitability and Cash Flow: The company generated $1,269,976 thousand in Adjusted EBITDA (a 30% margin) and $1,251,889 thousand in free cash flow in 2025, operating with low capital expenditure requirements.
• Brand-Safe Platform Positioning: Deliberate content moderation policies and minor-safety features help protect brand equity, differentiating Pinterest from more contentious social media platforms.

Key Challenges and Risks

Pinterest operates in a competitive and heavily regulated digital technology sector. The company discloses several operational, strategic, regulatory, and market risks in its annual filings:

Advertising Concentration and Revenue Volatility

Substantially all company revenue is derived from third-party advertising, which is concentrated in retail and consumer packaged goods (CPG) verticals. Most advertisers do not commit to long-term contracts and can modify or reduce spending budgets at any time. Macroeconomic headwinds, such as inflation, tariffs, and supply chain disruptions, can adversely impact corporate ad budgets.

Dependence on Third-Party Infrastructure and Gatekeepers

Pinterest relies on external digital platforms and cloud providers to maintain its service:

• Amazon Web Services (AWS): Pinterest hosts substantially all of its computing, data storage, and network delivery infrastructure on AWS. Disruptions, outages, or contract modifications with AWS would harm platform availability and financial performance.
• Search Engines (Google, Bing, Yahoo!): The platform depends on search engine optimization (SEO) algorithms to route organic traffic and register new users. Algorithm updates from Google have previously caused, and may in the future cause, declines in web traffic and user registration.
• Mobile Operating Systems (Apple iOS & Google Android): Policy updates from Apple and Google—including privacy frameworks such as Apple’s AppTrackingTransparency and Intelligent Tracking Prevention—restrict third-party cookie usage and mobile advertising identifiers, hindering ad measurement and conversion tracking.

Global Privacy and Child Safety Regulations

Pinterest is subject to evolving regulatory requirements across its international operating footprint:

• General Data Protection Regulation (GDPR): Enforces strict controls over European user data handling, cross-border data transfers, and data breach notification windows, carrying statutory penalties of up to 4% of global turnover or €20 million.
• Child and Teen Safety Mandates: Increased scrutiny and proposed legislation targeting youth online safety may restrict ad targeting to minors, require age-verification mechanisms, or limit young user platform access.
• European Union AI Act: Enacted in August 2024, the regulation mandates transparency for AI systems, carrying non-compliance fines of up to 7% of global annual revenue.

Dual-Class Voting Control

The 20:1 voting ratio between Class B and Class A common stock concentrates corporate governance power among executive officers, directors, and early founders. As of March 27, 2026, founders Benjamin Silbermann and Paul Sciarra hold a combined 66.52% of total voting power, insulating management from shareholder actions and potentially depressing Class A market liquidity.

Conclusion and Strategic Outlook

Pinterest’s fiscal 2025 performance illustrates its transition into an AI-powered visual search, discovery, and shopping platform. By growing global monthly active users to 619 million, generating $4,222 million in revenue, and producing $1,252 million in free cash flow, the company proved the economic viability of its visual commerce model.

Looking ahead, management’s strategic priorities focus on deploying the Q1 2026 restructuring plan, integrating the tvScientific acquisition, expanding lower-funnel ad automation with Pinterest Performance+, and raising international Average Revenue Per User rates toward North American benchmarks. Supported by its $1.0 billion convertible senior note financing in March 2026 and an unbranded commercial search environment, Pinterest continues to position itself at the intersection of consumer inspiration and digital retail transactions.

Official Site: Pinterest