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  "documentTitle": "e.l.f. Beauty, Inc. (ELF)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-11-09 00:00:00",
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  "notes": "The slide uses screenshots of social media and articles to point out a specific linguistic pattern used by the company's leadership.",
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      "kind": "callout",
      "text": "Intended or not, Spruce Point finds repeated references by ELF's Chief Marketing Officer to the word \"badass\" as it relates to women.",
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      "text": "Intended or not, Spruce Point finds repeated references by ELF’s Chief Marketing Officer to the word “badass” as it relates to women.",
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      "text": "\"E.l.f. was born to disrupt, and E.l.f. has a built-in renegade badass spirit in our veins,\" said Kory Marchisotto, E.l.f CMO. \"Kory gives Heide and me a ton of headlines, including \"Bright, Sassy, Badass\" and \"Curiosity, Courage, Conviction\"— not to mention plenty of \"elfisms\" and the elf-bombs!",
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      "kind": "quote",
      "text": "\"E.l.f. was born to disrupt, and E.l.f. has a built-in renegade badass spirit in our veins,\" said Kory Marchisotto, E.l.f CMO — Adweek. \"Kory gives Heide and me a ton of headlines, including \"Bright, Sassy, Badass\" and \"Curiosity, Courage, Conviction\"— not to mention plenty of \"elfisms\" and the elf-bombs!\" — Glossy.co.",
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      "kind": "source-note",
      "text": "Sources: \"Marketing is Seduction and Commerce is Sex for e.l.f. CMO Kory Marchisotto,\" Adweek, Feb 21, 2021; \"Following TikTok success, E.l.f. Cosmetics expands to Triller,\" Dec 10, 2020, Glossy.co; Salesforce.com Blog, June 19, 2019; LinkedIn post. Note: Red underline emphasis from Spruce Point",
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      "kind": "title",
      "text": "\"Badass\" Messaging From ELF's CMO",
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      "evidence": "Repeatedly highlighting connections between ELF's marketing partners and NXIVM",
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