Pinterest adds Elliott Management’s Marc Steinberg to its board as part of an agreement with the activist investor; Elliott has a stake of over 9% in Pinterest (Sarah E. Needleman/Wall Street Journal)

Miles Kruppa / Wall Street Journal:
Activist investor TCI, which has a $6B+ stake in Alphabet, calls on the company to aggressively reduce headcount and cut costs in long-term bets such as Waymo  —  Hedge fund says company would be more efficient with fewer employees  —  Activist hedge fund TCI Fund Management called …

Yun Li / CNBC:
Salesforce stock is up 6%+ pre-market after activist investor Starboard reveals a “significant” stake; shares of Salesforce have fallen more than 40% in 2022  —  Follow your favorite stocksCREATE FREE ACCOUNT  —  Jeffrey Smith, CEO of Starboard Value LP and Chairman of Papa John’s International Inc.

Wall Street Journal:
Elon Musk says Twitter has had a “massive” revenue drop due to activist groups pressuring advertisers, despite doing “everything” to “appease the activists”  —  Chief of the social-media company cites activist groups pressuring advertisers

Anton Wilen / Bloomberg:
SoftBank, which bought a 10% stake in Twilio competitor Sinch in November 2020, sells its remaining 5% stake; Sinch’s stock has fallen 93% since September 2021  —  Japanese investor SoftBank Group Corp has sold its entire stake in Sinch AB following a share price collapse of more than 90% in the Swedish cloud-based platform provider.

Svea Herbst-Bayliss / Reuters:
Filing: Starboard Value has built a 9% stake in Wix, which has been struggling with losses since Q4 2021 and has adopted a three-year cost-cutting program  —  Starboard Value LP has built a 9% stake in website development platform Wix.com Ltd (WIX.O), the activist hedge fund disclosed in a regulatory filing on Friday.

Paul Sawers / TechCrunch:
Barcelona-based Ukio, which runs a short-term apartment rental service, raised a €27M Series A led by Felix Capital, with €17M in equity and €10M in debt  —  Ukio, a short-term furnished apartment rental platform aimed at the “flexible workforce,” has raised €27 million ($28 million) in a Series A round of funding.