#Roommates, the business world is currently buzzing with news regarding PayPal and Pinterest that possibly involves billions of dollars and a history-making deal. Multiple financial outlets are reporting that PayPal is currently in discussion to buy Pinterest for $45 billion—which would easily make it one of the largest Internet consumer deals in modern history.
According to @NYTimes, popular digital payments company PayPal has reportedly put in a bid to buy digital pin-board platform Pinterest for an estimated $45 billion, sources close to the proposed business deal reveal. To breakdown the specifics, PayPal has reportedly offered $70 per share for Pinterest, which is a 25% increase from Pinterest’s opening share price listed earlier this week. It appears that the business landscape is excited for the potential deal, as Pinterest shares rose 13% once the news began circulating—bringing the company’s latest valuation to $39 billion.
Although not yet finalized, if the PayPal/Pinterest deal moves forward, it would make history as one of the largest consumer Internet purchases in recent history, topping the previous leader Salesforce’s buyout of Slack for $27.7 billion last year. PayPal’s current valuation is a whopping $306 billion, meaning that the acquisition of Pinterest would further make it one of the top online companies in the world.
As for Pinterest, the company rebounded after a few lackluster years due to share prices reaching new highs with increased revenue and user growth during the COVID-19 pandemic.
Currently, neither representatives from PayPal nor Pinterest have publicly commented on reports of the deal.
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