WEST
PALM BEACH, Fla., Aug. 1, 2022
/PRNewswire/ -- Elliott Investment Management L.P. (together
with its affiliates, "Elliott") today released the following
statement on behalf of Managing Partner Jesse Cohn and Senior
Portfolio Manager Marc Steinberg
regarding Pinterest, Inc. (NYSE: PINS) (the "Company" or
"Pinterest"):
Pinterest is a highly strategic business with
significant potential for growth, and our conviction in the
value-creation opportunity at Pinterest today has led us to become
the Company's largest investor. As the market-leading platform at
the intersection of social media, search and commerce, Pinterest
occupies a unique position in the advertising and shopping
ecosystems, and CEO Bill Ready is
the right leader to oversee Pinterest's next phase of growth. We
commend Ben Silbermann and the Board
on the leadership transition, and we look forward to continuing our
collaborative work with Ben, Bill and the Board as they drive
toward realizing Pinterest's full potential.
About Elliott
Elliott Investment Management L.P. manages approximately
$55.7 billion of assets. Its flagship
fund, Elliott Associates, L.P., was founded in 1977, making it one
of the oldest funds under continuous management. The Elliott funds'
investors include pension plans, sovereign wealth funds,
endowments, foundations, funds-of-funds, high net worth individuals
and families, and employees of the firm.
Media Contact:
Stephen
Spruiell
Elliott Investment Management
L.P.
(212)
478-2017
sspruiell@elliottmgmt.com
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SOURCE Elliott Investment Management L.P.