All Rights Reserved. border-bottom: 1px solid #ddd; New York, New York. Media Contact:Stephen SpruiellElliott Investment Management L.P.(212) 478-2017[emailprotected]. Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties, including, among other things, statements about our future operational and financial performance. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: general economic and political uncertainty in global markets and a worsening of global economic conditions or low levels of economic growth, including inflation, foreign exchange fluctuations and supply-chain issues as well as events such as Russia's invasion of Ukraine; our ability to provide useful and relevant content; our ability to attract and retain creators that create relevant and engaging content on our platform; risks associated with new products and changes to existing products as well as other new business initiatives; our ability to maintain and enhance our brand and reputation; compromises in security; our financial performance and fluctuations in operating results; our dependency on online application stores' and internet search engines methodologies and policies; discontinuation, disruptions or outages in authentication by third-party login providers; changes by third-party login providers that restrict our access or ability to identify users; competition; our ability to scale our business and revenue model; our reliance on advertising revenue and our ability to attract and retain advertisers and effectively measure advertising campaigns; our ability to effectively manage growth and expand and monetize our platform internationally; our lack of operating history and ability to sustain profitability; decisions that reduce short-term revenue or profitability or do not produce expected long-term benefits; the impact of the COVID-19 pandemic, including its impact on our business as well as on global and regional economies and economic activity; risks associated with government actions, laws and regulations that could restrict access to our products or impair our business; litigation and government inquiries; privacy, data and other regulatory concerns; real or perceived inaccuracies in metrics related to our business; disruption, degradation or interference with our hosting services and infrastructure; our ability to attract and retain personnel; and the dual class structure of our common stock and its effect of concentrating voting control with stockholders who held our capital stock prior to the completion of our initial public offering. in overseeing the global situational investing teams. Elliott Investment Management L.P. manages approximately $48 billion of assets. This will alert our moderators to take action. }. } Marc Steinberg's appointment to the Board is a clear result of the strong partnership between @Elliottinvmgmt & @Pinterest. Cohn, who has served on the boards of several technology companies including Twitter and eBay Inc, called Salesforce "one of the preeminent software companies in the world.". We undertake no duty to update this information unless required by law. Carrier equipment maker Ericsson lets go 8,500 employees, Apple reportedly planning second-generation mixed reality headset for 2025, Report: Justice Department plans lawsuit to block Adobe's $20B Figma acquisition, Galaxy Digital finalizes $44M acquisition of crypto self-custody platform GK8, Meta releases LLaMA to democratize access to large language AI models, Dapper Labs cuts 20% more staff in a second round of layoffs, INFRA - BY MARIA DEUTSCHER . The Platform Economy argues that the "platformization" of capitalism has transformed everything, and it is imperative that we have a historically precise, robust understanding of this widespread concept.Taking Japan as the key site for global platformization, Marc Steinberg delves into that nation's unique technological and managerial trajectory, in the process systematically examining . Rupert and Lillian Radford Professor of Law . However, they can also create big problems for company executives if they disagree with their suggestions. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. New York, NY. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous . Words such as believe, project, may, will, estimate, continue, anticipate, intend, expect, plan and similar expressions are intended to identify forward-looking statements. } We really want to hear from you, and were looking forward to seeing you at the event and in theCUBE Club. We believe Marcs perspectives will be valuable to the Companys strategy and execution. color: #ddd; The stock price has tumbled 38% since January and closed at $22.72 . You may change your billing preferences at any time in the Customer Center or call Elliott Investment Management L.P. manages approximately $55.7 billion of assets. We believe that Bill and the Pinterest team are the right leaders to guide the Company forward and we think they have only scratched the surface of the Companys potential. The two sides had been holding talks for several . Elliott, one of the world's busiest . in Economics from the University of Pennsylvanias Wharton School of Business, from which he graduated summa cum laude. Get this delivered to your inbox, and more info about our products and services. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Paul Singer, founder of Elliott Management, speaking at Delivering Alpha in New York on Sept. 13, 2016. Just days after Taylors upcoming departure was announced, Stewart Butterfield, the co-founder and CEO of Slack Technologies Inc., who joined Salesforce when it acquired his messaging company for $27 billion last year, also announced his decision to leave. Elliott said in July that its stake in Pinterest topped 9%. He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. The two sides had been holding talks for several months. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . Elliott indicated that it hopes to cement a good working relationship with Benioff. Lenders led by the State Bank of India (SBI) that are conducting an annual review of Adani Enterprises Ltd (AEL) have decided to maintain status quo on credit limits sanctioned for Gautam Adanis flagship company, said two people aware of the development. Mr. Cohn earned his B.S. font-size: 34px; Things could certainly be going much better for Salesforce at present. 22 HOURS AGO, [the voice of enterprise and emerging tech]. Neil Doshi He'll also sit on Pinterest's board's audit and risk committees. PINS Price Action: Pinterest has a 52-week high of $41.23 and a 52-week low of . . Twitter is now executing against an ambitious multi-year plan to dramatically increase the company's reach and value, and we look forward to the next chapter of Twitter's story. Elliott has made many technology-focused investments. He added that he has "developed a deep respect for Marc Benioff and what he has built." margin-top: 10px; These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: general economic and political uncertainty in global markets and a worsening of global economic conditions or low levels of economic growth, including inflation, foreign exchange fluctuations and supply-chain issues as well as events such as Russia's invasion of Ukraine; our ability to provide useful and relevant content; our ability to attract and retain creators that create relevant and engaging content on our platform; risks associated with new products and changes to existing products as well as other new business initiatives; our ability to maintain and enhance our brand and reputation; compromises in security; our financial performance and fluctuations in operating results; our dependency on online application stores' and internet search engines methodologies and policies; discontinuation, disruptions or outages in authentication by third-party login providers; changes by third-party login providers that restrict our access or ability to identify users; competition; our ability to scale our business and revenue model; our reliance on advertising revenue and our ability to attract and retain advertisers and effectively measure advertising campaigns; our ability to effectively manage growth and expand and monetize our platform internationally; our lack of operating history and ability to sustain profitability; decisions that reduce short-term revenue or profitability or do not produce expected long-term benefits; the impact of the COVID-19 pandemic, including its impact on our business as well as on global and regional economies and economic activity; risks associated with government actions, laws and regulations that could restrict access to our products or impair our business; litigation and government inquiries; privacy, data and other regulatory concerns; real or perceived inaccuracies in metrics related to our business; disruption, degradation or interference with our hosting services and infrastructure; our ability to attract and retain personnel; and the dual class structure of our common stock and its effect of concentrating voting control with stockholders who held our capital stock prior to the completion of our initial public offering. In a letter to AT&T's board, Elliott Management partner Jesse Cohn and associate portfolio manager Marc Steinberg wrote that AT&T's stock could potentially surge to above $60 a share by 2021 . "Our discussions with Jason and the board have been positive and productive, and we are pleased to have worked collaboratively to reach this agreement," Marc Steinberg, Elliott senior portfolio . You may cancel your subscription at anytime by calling Available on iOS and Android, and at pinterest.com. Hear from you, and at pinterest.com this delivered to your inbox, and at pinterest.com said in July its. Marc Benioff and what he has `` developed a deep respect for marc Benioff and he... Quot ; one-of-a with Benioff had been holding talks for several months the board Dec.! Marc Benioff and what he has `` developed a deep respect for marc and!: 34px ; Things could certainly be going much better for Salesforce at present #! Quot ; one-of-a one of the world & # x27 ; s busiest in.! 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