Simply put, Finkelstein apparently disagrees with the analyst community regarding the competitive nature of Buy with Prime.

So why is Shopify building bridges to its castle instead of digging moats around it? Considering the company generated $5.6 billion in revenue in 2022, this could be a roughly $800 million problem.

'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,' Elliott said in a statement.However, according to Madhukar, Buy with Prime is a threat to up to 14% of Shopify's revenue. After Pinterest's results were released on Monday, Elliott confirmed it's the company's biggest shareholder and said it's pleased with Ready's progress. Pinterest's hiring of Ready pointed to a deeper push into e-commerce and online retail.Įlliott's involvement with the company was reported in July by The Wall Street Journal, which said at the time that the firm had built a stake of over 9% in the company. In June, Pinterest co-founder Ben Silbermann stepped down as the company's CEO, and was replaced by Bill Ready, previously the leader of Google's commerce unit. Pinterest said that its third-quarter guidance takes into account 'slightly greater foreign exchange headwinds' than the previous quarter.

big box retailers and mid-market advertisers, who pulled back ad spend due to concerns about weakening consumer demand.' 'The macroeconomic environment has created meaningful uncertainty for our advertiser partners,' Pinterest said in the letter.' The company said it saw 'lower than expected demand from U.S. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit

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