Pinterest CFO Julia Donnelly Leaves for Early-Stage Startup
Julia Donnelly, CFO of Pinterest, is departing to join an early-stage company, according to Reuters. She will step down on October 30.
Donnelly joined Pinterest in 2023, transitioning from Wayfair, where she served as global head of finance. Her departure, effective the same date, was not due to any disagreements with the company, as indicated in the 8-K filing.
Vikram Naidu, Vice President of Finance and Business Operations since March 2024, will take over as principal financial officer on an interim basis.
Pinterest’s CEO, Bill Ready, credited Donnelly with driving eleven consecutive quarters of double-digit revenue growth. The company reported strong second-quarter results:
- Revenue: $1.18 billion (up 18% YoY)
- Global MAU: 640 million (a record)
- Adjusted EBITDA: $311 million (26% margin)
- Free cash flow: $270 million (despite a GAAP net loss of $47 million)
Pinterest has been actively repurchasing shares, completing over $2 billion in buybacks this year at an average price of $18.17 per share.
The outlook for Pinterest is more uncertain. The company expects Q3 revenue between $1.19 billion and $1.21 billion, representing slower growth (13% – 15%) compared to the prior quarter’s 18%. This comes as the advertising market becomes increasingly competitive, with Meta poised to surpass Google in digital ad revenue this year.
Donnelly’s tenure saw two significant acquisitions: tvScientific and [a second deal not specified in the text].