Who owns Pinterest? Unveiling the key stakeholders
Pinterest is a San Francisco, California-based image-sharing and social media platform that allows users to share and save images and videos on virtual boards. The platform was launched in January 2010 and is also one of the most used social media platforms, with over 498 million monthly active users. But who owns Pinterest?
Source: UGC
TABLE OF CONTENTS
Pinterest is where people browse, discover, and buy images/videos. It was established to provide a platform for people to gather and share visual representations of their goals and plans. So, who owns and runs Pinterest?
History of Pinterest
The platform started as an app called Tote, created by Ben Silbermann and Paul Sciarra. Tote was a virtual replacement for paper catalogues but faced challenges due to mobile payments. Ben and Paul shifted the company to Pinterest, intending to inspire people to create.
Pinterest's development began in December 2009, and the three co-founders, Ben Silbermann, Paul Sciarra and Evan Sharp, launched the first desktop version in March 2010. On August 10, 2011, Time magazine listed it as one of its 50 Best Websites 2011.
The idea for Pinterest came from Ben's love for collecting and curating various items. He wanted to create a digital platform that enabled people to collect and organize things they love. The platform has now grown exponentially, attracting millions of users worldwide.
Who owns Pinterest?
Pinterest allows users to save and share image collections from recipes, travel, home décor, and fashion through their computers or mobile phones. Here are Pinterest founders:
1. Ben Silbermann
Source: Getty Images
Ben Silbermann is an American entrepreneur popularly known as Pinterest's co-founder and executive chairman. Growing up, Ben had a passion for creativity and innovation. He attended Yale University and worked at Google before founding Pinterest.
His exceptional leadership and innovation have earned him numerous recognition and accolades in the tech industry. He has also been featured in various publications, including Times magazine's 100 Most Influential People and Forbes 30 Under 30.
2. Paul Sciarra
Source: Getty Images
Paul is an American Internet entrepreneur popularly known as the co-founder of Pinterest. He left the company in 2012 and held a 7% stake, which went public on the New York Exchange in April 2019, making him a billionaire.
After leaving Pinterest, he worked at Silicon Valley venture capital firm Andreessen Horowitz, where he worked as an entrepreneur-in-residence. In 2014, he became the executive chairman of Joby Aviation, a company that creates electric-powered vertical take-off-and-landing air taxis.
3. Evan Sharp
Source: Getty Images
Evan Sharp is an American billionaire and Internet entrepreneur popularly known as Pinterest's co-founder and chief design and creative officer. As a child, Evan used to play with his father's computer, which fueled his creative instincts. He graduated from the University of Chicago with a degree in History and later attended Columbia to study architecture.
While studying architecture, he met Ben Silbermann, and they co-founded Pinterest. At the company, he was responsible for coding and designing the site and overseeing its design efforts.
On February 20, 2024, Sharp sold 53,725 of his shares. He also stepped down from the company and joined LoveFrom, the design firm founded by Jony Ive, a former executive of Apple Inc.
Who are Pinterest's shareholders?
The platform is owned by 77.49% institutional shareholders, 16.98% company insiders, and 5.52% retail investors. Benjamin Silbermann owns 50.83 million shares, representing 7.49% of the company. This makes him the largest individual shareholder of Pinterest.
Source: UGC
These are some of the institutional shareholders with their percentages:
- Vanguard Fiduciary Trust Co- 9.467%
- BlackRock Advisors LLC – 4.765%
- Elliott Investment Management LP – 4.704%
- T. Rowe Price International Ltd – 3.984%
- Macquarie Investment Management Business Trust – 3.430%
- Barclays Bank Plc – 2.551%
- State Street Corporation – 2.059%
- Ameriprise Financial Services LLC – 1.994%
- Two Sigma Advisers LP – 1.826%
Who is Pinterest's CEO?
Ben Silbermann was the Pinterest CEO until June 2022, when he stepped down and became the executive chairman. He was replaced by Bill Ready, who was the head of Commerce, Payments & Next Billion Users at Google. Before Google, he held various top leadership roles at Paypal, including Executive Vice President and Chief Operating Officer.
Besides being the Chief Executive Officer, Bill also became a member of the Board of Directors. Bill Ready took the role when the company was dealing with internal accusations about a problematic and discriminatory work culture.
What is Ben Silbermann's net worth?
According to Celebrity Net Worth, Ben Silbermann, the brilliant mind behind Pinterest, is worth $1.6 billion. He derives his vast wealth from his impressive stake in the company.
Did Facebook buy Pinterest?
Rumours had it that Facebook had declared interest in buying Pinterest. However, Ben Silbermann and his co-founders still own the platform and have stated that they have no intention of selling it soon. The visual discovery tool is among the most extensive visual internet collections.
What company owns Pinterest?
Pinterest is a publicly traded company. Its creators are Ben Silbermann, Evan Sharp, and Paul Sciarra.
Source: UGC
When was Pinterest created?
The platform's development started in 2009. In March 2010, a prototype was made available to a small group. It was made available to the public on August 10, 2012.
Is Pinterest part of Amazon?
On April 27, 2023, Pinterest partnered with e-commerce giant Amazon. The partnership is expected to add more features to the image-browsing platform and boost revenue.
The above is everything you need to know about who owns Pinterest, the popular social networking platform that allows users to discover and save ideas for various topics. The platform has become a go-to place for inspiration, from DIY projects and home décor to recipes and fashion.
READ ALSO: Who owns Netflix? Meet the streaming giant's top shareholders
Briefly.co.za published an article about Netflix's top shareholders. Netflix is an American subscription-based streaming service that offers various award-winning television shows, documentaries, movies, anime, and more on internet-connected devices. Discover the owners of the streaming giant.
Source: Briefly News
