Pinterest Launches Twotwenty Incubator for New Projects
Pinterest Launches TwoTwenty: A New Innovation Team
Pinterest has unveiled a new initiative aimed at accelerating its innovation efforts. This involves the creation of an internal team, dubbed TwoTwenty – a name derived from the address of Pinterest’s original headquarters.
This dedicated group, composed of engineers, designers, and product specialists, will focus on researching, prototyping, and evaluating novel features and concepts. Promising developments will then be transitioned to other teams for broader implementation.
Early Contributions and Pinterest TV
The team has already contributed to recent Pinterest launches. Their initial work centered on livestreamed creator events, which subsequently expanded to include features like livestream replays and integrated shopping recommendations.
These advancements played a key role in the development of “Pinterest TV,” a live shopping feature designed to compete with similar offerings from platforms such as Facebook, Instagram, and TikTok.
Pinterest TV features a lineup of “shows” hosted by creators, enabling real-time interaction and Q&A sessions during live shopping experiences. The virtual studio functionality, also originating from TwoTwenty’s explorations, further enhances the creator experience.
Adapting to the Modern Social Landscape
The establishment of this dedicated team reflects Pinterest’s ongoing efforts to adapt to the evolving social media landscape. The current focus is shifting towards video and livestreaming formats, alongside the growth of the creator economy.
This represents a significant departure from Pinterest’s initial concept as an online image pinboard for idea discovery and research. The company is now striving to attract a younger audience accustomed to video-centric platforms like Instagram and TikTok.
Failure to successfully navigate this transition could jeopardize Pinterest’s position as a leading social platform. Recent discussions regarding a potential acquisition by PayPal, which ultimately did not materialize, underscore this point.
Idea Generation and Experimentation
Pinterest’s new incubation team will gather ideas through an online portal, the “Idea Factory,” and company-wide “Makeathons” (hackathon events). These concepts will then undergo rigorous experimentation and prototyping to assess their viability.
The team will concurrently manage one to two projects, with some reaching full implementation and others being discontinued based on their performance – mirroring the iterative process of a startup.
Team Composition and Leadership
The initial TwoTwenty team includes Product Lead David Temple, overseeing creator products; early engineer Ryan Probasco; Content Lead Meredith Arthur, formerly of CBS; Albert Pereta, joining via the 2014 Iceberg acquisition; and Engineering Lead Steven Ramkumar, a veteran of Pinterest’s iOS development.
Currently, 15 individuals are dedicated full-time to the team, with ongoing recruitment efforts to expand its capabilities.
Industry Benchmarks
Other major technology companies also employ dedicated teams to foster innovation.
Facebook launched its “NPE Team” in 2019 to test new ideas, but these largely informed existing Facebook and Instagram features rather than becoming standalone brands. Google’s Area 120 incubator, conversely, has successfully launched several products that have been integrated into Google Search, Shopping, Commerce, and Cloud.
Area 120 has recently been reorganized and placed under new leadership, alongside long-term projects like Project Starline, a holographic videoconferencing initiative.
Looking Ahead
“With TwoTwenty, we prioritize a collaborative approach and accelerate ideas from employees around the company,” stated Temple. “Leveraging the resources of an established brand, we aim to explore and invest in new solutions that inspire people to live fulfilling lives.”
