Notably, the adjusted EBITDA surged 117 per cent YoY to US$ 201.4 million in Q3 2021. Meanwhile, it posted a net income of US$ 93.99 million in comparison to a net loss of US$ 94.2 million in Q3 2020. In Q3 2021, Pinterest's revenue surged 43 per cent year-over-year (YoY) to US$ 632.9 million. On February 2, the PINS stock ended the day 69.6 per cent lower in comparison to its 52-week high of US$ 89.9 per share on February 16, 2021. He founded Pinterest in 2010 alongside Ben Silbermann and Paul Sciarra, and oversaw product strategy and user experience. Sharp will remain on Pinterests board until 2024 but has decided to join up with ex-Apple design chief Ive at LoveFrom. If the market uncertainty continues, it appears that the stock could continue to face turbulent times. Pinterest co-founder Evan Sharp is joining Jony Ives new design venture. OctoPinterest co-founder and chief design and creative officer Evan Sharp is joining LoveFrom, the creative collective started by former Apple chief design officer Jony Ive when he. Pinterest's shares have plunged about 25 per cent year-to-date (YTD). PINS stock price has been declining, and it fell 63 per cent in the last 12 months. Investors are wary of taking risks amid reports that the Federal Reserve could hike interest rates next month. According to reports, he continues to serve the company's board.Īpart from employees leaving the company, the Pinterest stock could also be declining due to the uncertain market since the beginning of this year. Mr Sharp served as the chief creative and design officer and part of Pinterest's board of directors. The exodus comes after Evan Sharp, co-founder of Pinterest, stepped down from his position and joined LoveFrom, a design company launched by former Apple executive Jony Ive.Īlso Read: Has BuzzFeed (BZFD) stock 'recovered' after nosediving since its debut? In the last several weeks, many top executives have reportedly left the organization, and the PINS stock could be declining due to this reason. Published reports claim that Bill Watkins is set to replace Jon Kaplan, and he is Pinterest's chief of small-business sales. Mr Kaplan has been with Pinterest since 2016, and he had previously worked with companies like Google. It is being reported that Pinterest's top executives continue to leave the organization, and this week its Chief Revenue Officer Jon Kaplan has reportedly left the organization. The company is expected to announce its financial results for the fourth quarter of the fiscal year 2021 on Thursday, February 3, after the market closes for the day. Pinterest is an image sharing and social media service, and it appears to be popular among millennials. Pinterest co-founder Evan Sharp is joining Jony Ives design firm. At the end of the trading session on Wednesday, February 2, the PINS stock had declined around nine per cent to close at US$ 27.33 per share. Pinterest top competitors are Reddit, Tumblr and Google and they have. (NYSE:PINS) were down about eight per cent during pre-market hours before the company's earnings release. Pinterest Inc said on Thursday co-founder Evan Sharp is leaving the company to join LoveFrom, a firm led by Jony Ive, the designer of many iconic Apple products.
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