PayPal is reportedly in an advanced stage of purchase negotiations Pinterest. According to Reuters, the popular online payment company made an offer of $45 billion dollars on Wednesday to buy the social network. Reuters points out that the value of this agreement is around 39 billion dollars, and PayPal plans to finance the acquisition mostly through shares.
At first glance, PayPal’s interest in buying Pinterest seems surprising, but this acquisition would help the company significantly solidify itself in the growing social commerce market. This is an area in which Pinterest has been an active player since 2015. In a sense, Pinterest is a secure purchase. The service managed to avoid many problems with misinformation, which hit Facebook and Twitter.
Also, it is necessary to point out and remind that PayPal dedicated a large part of last year to expanding beyond its traditional business framework. The company recently spent $ 2.7 billion on consolidating its presence in the buy-now-pay-later sector, and also entered the market by trading using cryptocurrencies at the big door.
Source: Engadget