Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, June 28, 2024

Article Excerpt

PINTEREST INC., $44.07, symbol PINS on New York, is a hugely popular social media platform that relies on images to create user interest. For that reason, it holds considerable appeal for some investors. The users of the company’s site “pin” items they like to their personal pages so that their friends and followers can view their curated lists on subjects such as recipes, clothing, household goods and places to travel. As of March 31, 2024, the site has 518 million monthly active users (MAUs). The company hired CEO Bill Ready in June 2022. He came from Google, where he was in charge of its Commerce and Payments initiatives. Pinterest founder Ben Silbermann became executive chairman. As CEO, Ready has introduced a number of initiatives aimed at getting its users closer to its advertising customers’ brands. This has resulted in profitable revenue growth. Notably, the changes are especially popular with Gen Z users who save more pins than any other age cohort. (Gen Z is…