Recently, Pinterest's CEO Ben Silbermann announced that he is stepping down and will be replaced by Bill Ready. Ready has spent years as head of Commerce, payments & Next Billion Users at Google.
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SAN FRANCISCO, CALIFORNIA - APRIL 09: A pedestrian walks by the Pinterest headquarters on April 09, 2019 in San Francisco, California.
However, Silbermann won't be leaving the company, but he will be the platform's executive chairman. Silbermann also told the Wall Street Journal that Ready will be a better CEO than he is.
The Internet's Shopping Mall
With the latest switch of hands, are we going to see the biggest shopping mall online? The platform has hundreds of millions of users that isn't growing that fast or making a lot of money even those most of its users spend their time search for and pinning stuff they want to buy.
The platform has become a powerful discovery and curation engine for shoppers all over the world. With that, it didn't compete with the biggest retailers and shopping platforms.
With the new CEO on board, the future seems more enticing as Pinterest acts like a shopping mall online, where users have a single place to shop for brands from all over the internet. The platform can also facilitate purchases all over the place.
As per the Verge, Ready, with his track record of being ahead of the game in eCommerce as a top executive for Venmo and PayPal before going to Google in 2020, will run various commerce projects. Even though Google Shopping hasn't taken the world, it already made an impact. For one, commerce became a huge part of YouTube's future and Google revamped the way Shopping works. Furthermore, the company has reinvested in its payment systems.
Now, Ready seems to have big commerce plans for the platform. On a LinkedIn post he said, "In the next phase of our journey, we will help people engage more deeply with all the inspiring products and services they find on our platform so they can build their best lives."
He also mentioned how clear it is that Pinterest has the chance to build something unique and special in the future.
Also Read: Pinterest to Clamp Down on Climate Change Misinformation via Active Account Banning
The Future of Pinterest Shopping
Pinterest is one of the biggest online shopping malls today, but it somehow doesn't have its own payment methods. With the new CEO on board, the company can look forward to making some changes.
Pinterest is brand-friendly, and it is continuously searching for ways to change how people shop online. It has always been about helping to people find things, but not always about buying online. With Ready being a Google veteran, he can understand the importance of payments while curating the shopping experience.
So, it is safe to say that the company is focusing on a new kind of shopping experience with shopping suggestions, reviews, and of course, payments. With a little push here and there, Pinterest can be a reason for different platforms to worry about their own growth.
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Written by April Fowell
