![]() I think Elliott may be on to something here," said Michael Schulman, chief investment officer at Running Point Capital.Įlliott has also been building up stake in PayPal Holdings Inc (PYPL.O) "As a visual search engine, Pinterest offers a distinct way for businesses to market. ![]() The firm on Monday backed Pinterest Chief Executive Bill Ready, who took over on June 29, and also commended co-founder Ben Silbermann for the leadership transition.Įlliott and the Pinterest management had "a very collaborative and engaged dialogue" recently, Ready said on a post-earnings conference call. However, the Wall Street Journal reported in July that the investment firm had amassed a more than 9% stake. Pinterest has "significant potential for growth", which led Elliott to become its largest shareholder, Elliott managing partner Jesse Cohn and senior portfolio manager Marc Steinberg said in a statement.Įlliott did not disclose its stake in Pinterest. Aug 1 (Reuters) - Activist investor Elliott Investment Management disclosed on Monday it had become the largest shareholder in Pinterest Inc (PINS.N), backing the management of the digital pin-board firm and sending the company's shares up 21%.
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