Pinterest co-founder and chief designer Evan Sharp will step away from his operational roles at the San Francisco-based social media group to join Sir Jony Ive’s new company, LoveFrom.
Sharp joins a small but growing team of designers at LoveFrom, which I launched after leaving his former role as Apple’s top designer in 2019.
Sharp founded Pinterest along with Ben Silbermann, who is the company’s CEO, and Paul Sciarra, who left in 2012. He worked as a design and creative director, helping launch the online scrapbooking and image search platform. more than a decade ago.
He will remain on the Pinterest board and continue in an “advisory role”, the company said Thursday.
“What job can compete with the leader of Pinterest? None, ”Sharp wrote in an internal note to Pinterest staff.
“But when I think about how to create a life that I love, one thing is clear to me: I really, really want to grow as a designer and product creator. That is why I made the decision to work with designer Jony Ive at LoveFrom. This opportunity for me to learn alongside the best in their craft is a tremendous opportunity. “
His departure comes after a difficult year for Pinterest, which has faced criticism for its internal culture as it struggles to capitalize on the surge in online activity fueled by the pandemic, which has pushed up share prices. your rivals on social media.
With a market capitalization of $ 33 billion after the close of business on Wednesday, investors are pricing Pinterest well below their peers Twitter, at $ 50 billion, and Snap, now worth $ 118 billion.
Pinterest shares have lost nearly a quarter of their value since early 2021, after the July earnings report revealed user growth that fell short of Wall Street expectations. Despite more than doubling its revenue year-over-year in the three months through June, a 5 percent decline in monthly active users in the U.S. worried investors, erasing about $ 8 billion of its value. of market in a single day.
The San Francisco-based company has also been embroiled in allegations of gender discrimination. He paid $ 22.5 million to settle a lawsuit by a former executive, Françoise Brougher, last December. Pinterest did not admit to making any mistakes as part of the settlement.
More than two years after Ive announced his departure from Apple, LoveFrom has started revealing more about his plans in recent weeks. Ive and his longtime collaborator Marc Newson have lured a number of designers away from Apple, including Chris Wilson and Eugene Whang.
Last month, Love From signed a deal with Exor, Ferrari’s parent company, as the supercar maker works on its first electric vehicle. I have also revealed that he is working with the Emerson Collective, billionaire philanthropist Laurene Powell Jobs, which invests in education, immigration and climate change.
This week, LoveFrom launched its website, featuring a custom typeface developed over the past two years with Peter Saville, the British graphic designer who rose to fame in the late 1970s and ’80s for his work on album covers. of the Joy Division and New Order bands from Manchester. .