UPDATE: Pinterest has hired Walmart CTO Jeremy King as its Head of Engineering ahead of the company's upcoming IPO. Pinterest is seeking a valuation of at least $12 billion, according to The Wall Street Journal. “Not only is Jeremy a respected engineering leader, but from the moment we met him, we knew his values around putting the customer first were aligned with our own focus on Pinners,” Ben Silbermann, CEO of Pinterest, said in a statement. “As we build products to inspire people to create a life they love, Jeremy’s technical experience and leadership are a perfect combination to build a visual discovery engine for all.” Walmart Chief Technology Officer Jeremy King is leaving the company, according to a memo obtained by CNBC. King has not announced his future plans, but the memo noted that he will be starting a “new adventure” in the near future. Fiona Tan, SVP of Customer Technology, will step up to an “elevated role” following King’s departure on March 29, as the retail giant searches for a permanent replacement.