Activist investor Elliott Management Corp. has taken a giant stake in Pinterest in line with folks acquainted with the matter, because the once-hot social-media firm grapples with a decline in customers and different challenges.
Elliott has instructed the corporate that it’s the largest investor in Pinterest, having constructed a stake of greater than 9% in latest months—partly in frequent inventory, one of many folks mentioned. The activist has been in discussions with Pinterest over the previous a number of weeks. It couldn’t be realized what they’ve been discussing.