Sharp founded the online scrapbook and photo-sharing platform along with Ben Silbermann, who is the company's chief executive officer, and Paul Sciarra, who left in 2012. News of the potential deal comes less than a week after Pinterest co-founder Evan Sharp announced plans to leave the company to join LoveFrom, a firm led by Jony Ive, the designer of many iconic Apple products. PayPal's shares were down about 3.5%, while Pinterest's shares were up over 10% at $61.55. The source requested anonymity as the discussions are confidential. PayPal and Pinterest did not immediately respond to Reuters' requests for comment. The price would represent a 26% premium to Pinterest's closing price of $55.58 on Tuesday. The companies have discussed a potential price of $70 per share, which would value Pinterest at around $39 billion, according to Bloomberg News. Subsequent lawsuits have followed.Payments giant PayPal Holdings Inc is in talks to buy digital pinboard site Pinterest Inc, according to a person directly familiar with the matter. The investor alleged a breach of fiduciary duty and abuse of control, among other claims, and said the concerns stemmed from discrimination on the basis of race and sex of the company’s employees. That suit followed public complaints by two Black women who left Pinterest earlier in the year and said the company underpaid them and that their own discrimination claims were ignored by human resources.Ī pension fund also sued the company and a group of executives and board directors on behalf of shareholders in late 2020, accusing Pinterest of “illegal discrimination.” Sharp is named as one of nine defendants in that suit, apart from the company itself. Pinterest paid $20 million to settle a gender discrimination lawsuit filed by former COO Francoise Brougher last December. Pinterest co-founder Evan Sharp is joining Jony Ives design firm. The departure comes at a complicated time for Pinterest, which is dealing with a number of accusations from former employees that the company discriminated against female workers. Pinterest top competitors are Reddit, Tumblr and Google and they have. The stock hit an all-time high in February, but has since fallen more than 42%, closing at $51.57 Wednesday, as usage has slowed with the pandemic’s easing. Pinterest, which went public in April 2019, benefited during the pandemic when people stuck at home moved online to fill time. He’ll continue to serve on Pinterest’s board, and also has a new role advising the company on strategy, product, design, brand and culture, Pinterest said in its blog post. Sharp is credited with designing and building the original Pinterest product, and oversees the user experience, according to a company statement posted online Wednesday.
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“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 builder.” What job will ever be able to compete with leading Pinterest? None,” Sharp wrote in an internal note to employees seen by Bloomberg. “As you might imagine, this is a tough decision for me. He has overseen the product and design teams for the digital search and scrapbooking platform since 2011, according to a company filing, and has an ownership stake that gives him about a 6% of Pinterest’s voting control. Sharp is Pinterest’s chief design and creative officer, and as co-founder, sits on the board of directors. co-founder Evan Sharp is stepping down from the company and plans to join LoveFrom, the design firm founded by former Apple Inc.
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