Activist investor Elliott Management Corp. has picked up a major stake in Pinterest According to people familiar with the matter, the once-popular social-media company is grappling with a drop in users and other challenges.
Elliott has told the company it is the largest investor in Pinterest, having made up more than 9% in recent months — partly in common stock, one of the people said. Activists have been in discussions with Pinterest for the past several weeks. Couldn’t figure out what they were talking about.