PayPal is in discussions to purchase Pinterest at $45 Billion, according to reports
According to Bloomberg News, the businesses have discussed a potential price of $70 per share, which would value Pinterest at approximately $39 billion.
According to a source familiar with the situation, PayPal Holdings Inc is in discussions to purchase digital pinboard site Pinterest Inc.
According to Bloomberg News, the businesses have discussed a potential price of $70 per share, which would value Pinterest at approximately $39 billion. The offer represents a 26 percent premium over Pinterest’s Tuesday closing price of $55.58.
PayPal and Pinterest did not reply to demands for comment from Reuters right away. Because the conversations are private, the source requested anonymity.
PayPal’s stock was down approximately 3.5 percent, while Pinterest’s stock was up more than 10% to $61.55.
The prospective transaction comes less than a week after Pinterest co-founder Evan Sharp announced his departure to join LoveFrom, a startup run by Jony Ive, the creator of several famous Apple devices.
Sharp, Ben Silbermann, the company’s chief executive officer, and Paul Sciarra, who departed in 2012, established the online scrapbooking and photo-sharing platform.
