Business Standard

PayPal says it is currently not pursuing Pinterest acquisition

Some analysts now think Pinterest could attract interest from other bidders down the road

Cashless economy: Does an India play make sense for PayPal?
Premium

PayPal did not provide additional details Monday in its one-line statement

Krystal Hu and Anirban Sen | Reuters
PayPal Inc said it is not pursuing an acquisition of Pinterest Inc at this time, after several media reported last week that it was in talks to buy the digital pinboard site for as much as $45 billion.

The latest development, which dashed the prospect of Pinterest getting access to PayPal's massive user base, sent the social media platform's share price down over 12%. Reuters and other media reported on the deal talks on Friday, when sources said that PayPal had offered $70 per share, mostly in stock, for Pinterest.

PayPal did not provide additional details Monday in its one-line statement. Both

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 26 2021 | 3:35 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com