- Pinterest’s president and top business executive, Tim Kendall, is leaving to create a startup with the goal of curbing tech device addiction.
- He will be replaced by Pinterest’s current SVP of ads and commerce, Jon Alferness, and continue to serve as an advisor.
- Pinterest raised $US150 million in funding at a roughly $US12 billion valuation earlier this year and reportedly expects to make $US500 million in ad revenue for 2017.
Pinterest’s longtime president and top business exec, Tim Kendall, is leaving to launch a startup aimed at curbing tech device addiction, Pinterest told Business Insider on Thursday.
His departure from Pinterest comes as the visual discovery platform reportedly expects to make roughly $US500 million in ad revenue this year and mulls an eventual initial public offering. Kendall joined Pinterest six years ago and previously served as an early executive at Facebook.
“Tim has made important contributions to Pinterest and we are pleased that he will continue to serve as an advisor to the company,” Pinterest said in an emailed statement. “Jon Alferness, Senior Vice President for Ads and Commerce, will now lead the world-class team driving our rapidly growing ads business. Our focus continues to be measurable and actionable results for our partners while giving Pinners relevant ideas to help them discover and do new things.”
Just one day before his departure was announced, Kendall appeared at Business Insider’s IGNITION conference in New York to champion Pinterest as a challenger to the Facebook-Google duopoly over the digital advertising business.
Now he’s leaving Pinterest to launch a startup aimed at fighting tech device addiction. Given his background working at both Facebook and Pinterest, it’s an area he’s well suited for.