PayPal has offered $70 per share, mostly in stock, for Pinterest, one of the sources said. READ ALSO: Pinterest turns “good vibes” into shopping experience in Latin America
It has said it expects revenue growth mainly through deeper engagement with existing users rather than signing up new ones. It also saw a huge spike in users looking for crafts and DIY project ideas, as lockdown curbs kept people at home.Īs lockdowns eased, Pinterest has warned about slowing user growth, especially in the United States, its largest market. Pinterest was valued at about $13 billion when it went public in 2019. Its shares have risen about 36% in the last 12 months, giving it a market capitalization of nearly $320 billion. The payments behemoth was among the big winners of the COVID-19 pandemic, as more people used its services to shop online and pay bills to avoid stepping out. READ ALSO: Social commerce is here to stay: what will the big techs do about it? “(The) combination would be a significant positive for PayPal’s ongoing monetization initiatives on both sides of its merchant and consumer platforms, especially if Pinterest’s social commerce platform gets integrated with Honey’s AI into PayPal’s destination app,” Wedbush analysts wrote in a note. Acquiring Pinterest would allow PayPal to capture more of that e-commerce growth and diversify its income though advertising revenue.
The deal talks come as internet shoppers increasingly buy items they see on social media, often following “influencers” on platforms such as Instagram and TikTok. PayPal has offered to buy digital pinboard site Pinterest for $45 billion, people familiar with the matter said on Wednesday, a combination that could herald more financial technology and social media tie-ups in e-commerce.
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