REUTERS: What is happening with Pinterest?
A visual search engine
August 1, 2022 —
What does Elliott Management see in Pinterest?
Running Point and its chief investment officer, Michael Ashley Schulman, CFA, were quoted by Reuters in an article — by Yuvraj Malik, “Pinterest shares surge after Elliott discloses it is the largest shareholder” — regarding activist investor Elliott Investment Management disclosing that it owns the largest public stake in Pinterest. Personally, I was not very surprised since it had been disclosed in July that Elliott had an over 9% stake in Pinterest.
Pinterest offers a distinct way for businesses to market
Elliott, an activist investor is now the largest owner of social network Pinterest which is still early in its monetization strategy — with a unique and growing user base — versus many other social networks like Twitter, Instagram, BeReal, Snap, and TikTok. As a visual search engine, Pinterest offers a distinct way for businesses to market. I think Elliott may be on to something here! Recall that last October, PayPal explored purchasing Pinterest when it was at a much higher valuation. Additionally, Pinterest’s new CEO, Bill Ready, who previously ran commerce at Google, could be a true catalyst for change, improvement, and fresh revenue.
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Originally published at https://runningpointcapital.com on August 1, 2022.