Media: PayPal is in talks to buy Pinterest for $ 40-45 billion

by time news

According to Reuters and The Wall Street Journal, citing knowledgeable sources, the financial and technology company PayPal is in talks to buy the social Internet service and photo hosting site Pinterest. The WSJ reports that Pinterest is valued at roughly $ 40 billion, according to Reuters, PayPal is offering to pay $ 45 billion.The current market capitalization of Pinterest, which went public in 2019, is $ 35 billion.

If the negotiations are successful and the deal goes through, it will be the largest takeover of social services. Now the largest such deal is Microsoft’s purchase of LinkedIn for $ 26 billion in 2016. Earlier, the PayPal management has already made it clear that it intends to diversify its business, for which it is ready to go for acquisitions.

Following the announcement of the talks, Pinterest shares jumped 13% and Paypal fell 5%.

Evgeny Khvostik

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