![]() But this year's decline marks a surprising downturn for mobile. Mobile gaming has typically offset the losses in console and PC gaming and has been the largest and fastest-growing sector in the industry for years. And from a business perspective, Pinterest is continuing to embrace creators and new kinds of content, evolving beyond the original pinning concept. ![]() More recently, Christine Martinez filed a lawsuit against Silbermann and Sciarra (but not Sharp) saying that she helped create the company and wasn't fairly compensated. Ifeoma Ozoma, one of those former Pinterest employees, has been a force for culture change across tech, including with the Silenced No More Act. Sharp also leaves Pinterest at a complicated time in the company's history, as it continues to reckon with an internal culture that some employees said included racism and discrimination. "This chance for me to learn alongside the very best at their craft is a tremendous opportunity," Sharp wrote in a note to Pinterest staff. He wrote in a memo to Pinterest staff that he's joining LoveFrom to "grow as a designer and product builder." The new company has scooped a few other designers from Apple in recent weeks, including Chris Wilson and Eugene Whang, according to the Financial Times. He worked with the company as chief design and creative officer, and said he'll remain on the company's board and stick around as an adviser. ![]() Silbermann is still the company's CEO, while Sciarra left Pinterest a couple years after its founding. Sharp founded Pinterest alongside Ben Silbermann and Paul Sciarra. But with entrenched Pinterest user behavior, and as the economy slows and consumers slowly return to brick-and-mortar stores, Ready faces a rough road ahead.Evan Sharp is leaving Pinterest and heading to LoveFrom, Jony Ive's new company. Hiring an executive from Google is clearly a huge step in right direction toward achieving the goal of becoming an actual shopping site. In a note last year by Bernstein Research analysts on why the PayPal/Pinterest match was not made in heaven, they noted the crux of the issue Pinterest faces in this uphill battle: “User behavior on internet platforms is notoriously difficult to change – it’s genuinely unclear whether Pinterest’s 454 million MAU will meaningfully shift their behavior down-funnel toward purchasing intent even assuming PayPal could drive higher merchant/product adoption.” But the deal did not happen, after the payments company’s shareholders balked at the idea, according to the Journal. 0.57% last October reportedly made an overture to buy Pinterest, in the hopes it could spearhead this shift into e-commerce. It has been beta testing a product called Your Shop, a personalized shopping page customized to users’ activities and preferences, with a direct purchasing option for Shopify merchants within the app. But Pinterest is not exactly top of mind among consumers for online buying. Indeed, Pinterest has made moves in the past year to get its users to do some shopping, and some ads lead to product websites. Its current revenue comes from advertising. While first-quarter revenue of $575 million grew 18% year over year, it fell 32% from the December-quarter revenue peak of $847 million.īut the bigger issue ahead is the company’s desire to remake itself into a place to buy things, instead of a scrapbook to share images of design, decorating and fashion ideas from content pinned by users - some of which eventually lead to dead links, or more often, items that cannot be purchased. The most immediate is that its current user base has declined after a pandemic surge, as seen in the first quarter when its global monthly active-user count declined nearly 10% to 433 million. ![]() Success in that next chapter, though, is easier said than done. Silbermann told the Wall Street Journal that he believes “Bill’s actually going to be a better CEO than I am for this next chapter.” Investors clearly believed that Ready will be a better candidate for this next phase, sending Pinterest shares up nearly 4% in after-hours trading Tuesday.
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