Pinterest co-founder and head of design Evan Sharp is stepping down from the operational responsibilities of the Sir Francisco-based social media group to join Sir Johnny Ive’s new company LoveFrom.
Sharp is joining a small but growing team of designers at LoveFrom, which was launched in 2011 after Apple left its long-standing role as Apple’s top designer.
Sharp Pinterest was founded by Ben Silberman, the company’s chief executive, and Paul Sierra, who left in 2012. He served as chief design and creative officer, helping to launch online scrapbook and image search platforms more than a decade ago.
He will remain on the Pinterest board and continue to have an “advisory role,” the company said Thursday.
“Which job will ever be able to compete with the leading Pinterest? Nothing,” Sharp wrote in an internal memo to Pinterest employees.
“But when I think about how to create the life of my choice, one thing becomes clear to me: I really want to grow up as a designer and product maker. That’s why I decided to work with designer Johnny Ive on LoveFrom. For me this is a great opportunity to learn the best in their craft. ”
His departure comes after a difficult year for Pinterest, which faced criticism over its internal culture, while also struggling to capitalize on the growth of epidemic-driven online activity, which boosted the share prices of its social media competitors.
With a market capitalization of 33 billion after trading closed on Wednesday, investors are valuing Pinterest at নিচে 50bn, much lower than its peers Twitter, and Snap now valued at $ 118bn.
Pinterest’s stock has lost nearly a quarter of its value since the beginning of 2021, with the July earnings report revealing user growth that fell short of Wall Street expectations. Despite its revenue doubling year-on-year in the three months to June, a 5 percent decline in monthly active users in the U.S. worries investors, removing about b b billion from its market value in a single day.
The San Francisco-based company has also been implicated in allegations of gender inequality. It paid 22 22.5 million to settle a lawsuit filed by former executive Francois Brougher last December. Pinterest has acknowledged no wrongdoing as part of the settlement.
More than two years after Ive announced his departure from Apple, LoveFrom has begun to reveal more about his plans in recent weeks. Ive and her longtime collaborator Mark News have pushed many designers away from Apple, including Chris Wilson and Eugene Wang.
Last month, LoveFrom signed a deal with Exxon, the parent company of Ferrari, as the supercar maker works on its first electric car. Ive also revealed that she is working with billionaire social activist Lauren Powell Jobs’ Emerson Collective, which invests in education, immigration and climate change.
This week, LoveFrom launched its website, creating a custom typeface for the past two years with British graphic designer Peter Saville, who gained fame for his work on the Manchester band Joy Division and New Order album Sleeve in the late 1970s and late 1980s. .