Pinterest announced on Tuesday that activist investor Elliott Investment Management is purchasing $1 billion in new equity, positioning the hedge fund to become the company’s largest shareholder.
Bill Ready, CEO of Pinterest, told investors, “We delivered record revenue in 2025, with users reaching all-time highs for ten consecutive quarters and more than 80 billion monthly searches on our platform, as we continue to deliver strong innovation in visual search using AI. We are excited to continue our partnership with Elliott for the next phase of Pinterest’s growth. Elliott’s investment is a strong vote of confidence in the work we have done to build our business and the significant opportunities ahead for Pinterest. Today’s repurchase announcement reflects our belief that our current share price undervalues the strength of our business and the significant long-term growth opportunity ahead.”
“We have been steadfast supporters of Pinterest since we first invested in 2022, and have strong conviction in the Company’s trajectory,” said Marc Steinberg, Partner at Elliott and a member of Pinterest’s Board of Directors. “We are excited to meaningfully increase our investment in the Company and deepen our partnership with Pinterest. We see substantial opportunity ahead for the Company, and I look forward to continuing to work with Bill and the Board to drive Pinterest’s success.”
Pinterest expects to use the proceeds from Elliott’s investment to repurchase shares of its Class A common stock via a $1.0 billion accelerated share repurchase agreement.
Year-to-date, Pinterest has completed $473 million in share repurchases under a prior share repurchase program authorized in November 2024. In total, the $1.0 billion ASR, the intended $500 million of additional repurchases under the Rule 10b5-1 trading plan, and the $473 million of repurchases completed year‑to‑date represent approximately $2.0 billion of aggregate share repurchases expected in the first half of 2026.
Pinterest shares jumped 9% following the announcement.
By CEO NA Editorial Staff
