PayPal Holdings Inc (PYPL) has offered to purchase Pinterest Inc ($ 45 billion), a deal that could lead to more financial tech and social media in e-commerce, according to people familiar with the situation.
Online transactions and digital payments are closely linked. PayPal is now trying to combine both.
In a $ 45 billion deal, PayPal has offered to acquire Pinterest, the digital bulletin board company that enables e-commerce through its app, according to sources familiar with the negotiations. PayPal offered Pinterest around $ 70 per share, people said, up 25 percent from Pinterest’s opening price on Wednesday.
The biggest internet deal for consumers
The deal would be the largest in the consumer Internet sector in the last decade, outperforming Salesforce’s $ 26 billion purchase of LinkedIn in 2016 and Slack’s $ 27.7 billion last year, according to data services company Dealogic Year. It would also be one of the biggest deals for PayPal, which was spun off from eBay in 2015 and snapped up payment companies around the world.