Pinterest evan sharp jony lovefrom5/18/2023 Sharp founded the online scrapbook and photo-sharing platform in 2010 with Ben Silbermann, who is the company’s chief executive officer, and Paul Sciarra, who left in 2012. Pinterest is at a crossroads after co-founder Evan Sharp announced last week he would step down as chief creative officer to join LoveFrom, a firm led by Jony Ive, the designer of many Apple products. The market has valued Pinterest shares more cheaply than those of some younger social media platforms such as Snap but higher than more mature companies such as Twitter. READ MORE: Pinterest launches new features to increase online shopping It has said it expects revenue growth mainly through deeper engagement with existing users rather than signing up new ones. It also saw a huge spike in users looking for crafts and DIY project ideas, as lockdown curbs kept people at home.Īs lockdowns eased, Pinterest has warned about slowing user growth, especially in the United States, its largest market. Pinterest was valued at about $13 billion when it went public in 2019. Its shares have risen about 36% in the last 12 months, giving it a market capitalization of nearly $320 billion. The online payments provider was among the big winners of the COVID-19 pandemic, as more people used its services to shop online and pay bills. It hopes to successfully negotiate and announce a deal by the time it reports quarterly earnings on November 8. PayPal has offered $70 per share, mostly in stock, for Pinterest.
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