Pinterest CEO Ben Silbermann and chief creative officer Evan Sharp have long been expected to be big winners in the company’s initial public offering this week. But a third cofounder, Paul Sciarra, who has flown mostly under the radar, is one of the company’s largest individual shareholders.
Several high-profile entrepreneurs and investors are poised to get a market valuation for their ownership stakes when Pinterest goes public later this week, notably its top executive, CEO and cofounder Ben Silbermann, and Bessemer Venture Partners, its largest shareholder. Silbermann’s stake will be worth about $960 million when Pinterest goes public,calculates, while a second cofounder, chief creative officer Evan Sharp, owns an estimated 2.6% stake worth about $132 million.
At the time, other sites like Facebook and Twitter were text heavy. While Facebook was focused as a place for connecting with friends, Pinterest was a place for connecting with interests and hobbies alongside people you likely didn’t know in real life. Sciarra, a former New Yorker, reportedly kept collections on Pinterest of his favorite New York City restaurants.
“We and Pinterest got turned [down] by almost every VC in our early funding rounds,” Sciarra said in an email. Sciarra, however, didn’t stay at Pinterest for long. While regulatory documents from 2010 list him as Pinterest’s president and CEO, Silbermann, a former management consultant, reportedly started taking on those duties in early 2012. Soon afterwards, Sciarra announced he was departing Pinterest.
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