#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.
Stay Connected
Subscribe to updates from The Shade Room
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.
Want tea directly in your text inbox? Hit us up at 917-722-8057 or click here to join!
