PayPal wants to pay how much for Pinterest?

Your go-to site for inspiration might soon be bought by one of the most popular digital payments providers.

According to Bloomberg, PayPal wants to buy Pinterest for an amount that would make it the largest acquisition in the consumer internet space in the past decade and one of the largest for PayPal, too, which was spun from eBay in 2015. It reportedly offered $45 billion, or around $70 a share for Pinterest.

Keep in mind some other eye-popping acquisitions in the past 10 years don't even come close to hitting that number.

For instance, Microsoft gobbled up Linkedin in 2016 for $26 billion, and Salesforce bought Slack in 2020 for nearly $30 billion. And don't forget when Facebook bought WhatsApp in 2014 for $19 billion. It also got Instagram for $1 billion in 2012. And then Yahoo acquired Tumblr for that same price a year later.

Most people use Pinterest for ideas on stuff to buy. Even if they use it for craft ideas and DIY projects and recipes, they usually have to buy something after.

To help users discover products and find similar items, Pinterest has rolled out features in recent years that allow people to search for items in a photograph. It also, of course, has introduced some transacting capabilities - or "buyable pins" - so people can save images to pinboards and buy goods.

By buying Pinterest, PayPal would be expanding its presence in e-commerce. In 2019, it bought online coupon platform and extension Honey for $4 billion.

The New York Times noted PayPal's CEO recently told Wall Street analysts he wants PayPal to become a "super app" encompassing numerous services.

from Pocket-lint https://ift.tt/3G2ozWe
via IFTTT