PayPal Holdings Inc (PYPL) has offered to purchase Pinterest Inc ($45 billion), according to individuals familiar with the situation, a deal that could lead to more financial technology and social media tie-ups in e-commerce.
Online transactions and digital payments are closely linked. PayPal is now attempting to combine the two.
In a deal valued at $45 billion, PayPal has offered to acquire Pinterest, the digital pinboard company that allows e-commerce through its app, according to sources acquainted with the negotiations. PayPal has offered around $70 a share for Pinterest, the people said, a 25 percent increase from Pinterest’s opening share price on Wednesday.
The largest consumer internet deal
The deal would be the biggest in the consumer internet sector over the previous decade, topping Microsoft’s $26 billion purchase of LinkedIn in 2016 and Salesforce’s $27.7 billion acquisition of Slack last year, according to data service firm Dealogic. It would also be among the largest deals for PayPal, which was spun off from eBay in 2015 and has snapped up payments companies globally.
