PayPal is negotiating to buy from Pinterest, in a deal that could reach US$45 billion, equivalent to more than $251 billion per day’s quote. Details of the transaction were disclosed to Bloomberg this Wednesday (20), by sources familiar with the sale.
According to the publication, the online payment service sought the social network trying to open a deal, offering US$70 for each share of the company. The offer represents a 26% increase over the price of Pinterest shares at the close of Tuesday (19).
The sources heard by the report said that the negotiation is underway and no agreement between the parties is certain, also highlighting the possibility of changing the terms of the transaction. But if all goes well, PayPal’s purchase of Pinterest could be announced in November, according to Reuters.
Launched in 2010, the image sharing platform went public in April 2019, when it was valued at US$10 billion. The company, which has just launched a monetization program for content creators, did not comment on the possibility of a sale.
Opening the vaults
If carried out, the acquisition of the social network could become the biggest deal in the history of PayPal, which in 2019 paid US$ 4 billion for the Honey platform and recently spent US$ 2.7 billion to stay with the Japanese Paidy. Another deal made by the brand in 2021 was the purchase of Happy Returns.
Currently valued at over $300 billion, fintech plans to launch a new app. The digital wallet should gain resources from stock investment, check cashing and savings, making it a similar solution to platforms like Alipay and WeChat Pay.
Experts estimate that the agreement with Pinterest would open up a huge market for the company, taking advantage of the social network’s 380 million active users.