PayPal has made a $45-billion offer to buy Pinterest, sources say

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The acquisition by PayPal would form a combination that could herald more tie-ups between financial technology and social media companies in e-commerce

This translation has been automatically generated and has not been verified for accuracy.for $45-billion, people familiar with the matter said on Wednesday, a combination that could herald more tie-ups between financial technology and social media companies in e-commerce.

The payments behemoth was among the big winners of the pandemic as more people used its services to shop online and pay bills to avoid stepping out. The pandemic boost over the past 12 months have driven up its shares by about 36 per cent, giving it a market capitalization of nearly $320-billion. San Jose, California-based PayPal and Pinterest did not immediately respond to Reuters’ requests for comment. The sources requested anonymity as the discussions are confidential.

Sharp founded the San Francisco, California-based online scrapbook and photo-sharing platform along with Ben Silbermann, who is the company’s chief executive officer, and Paul Sciarra, who left in 2012.

Source: News Formal (newsformal.com)

 

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