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. “(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. ![]() PayPal’s shares fell over 4% on the news, while Pinterest rose more than 14% to $63.51. PayPal’s offer represents a 26% premium to Pinterest’s closing price of $55.58 on Tuesday. Bloomberg News first reported on the PayPal-Pinterest talks on Wednesday. PayPal and Pinterest did not respond to requests for comment. They asked not to be identified because the matter is confidential. The sources cautioned that no deal was certain and terms could change. The online payments provider hopes to successfully negotiate and announce a deal by the time it reports quarterly earnings on Nov. ![]() PayPal has offered $70 per share, mostly in stock, for Pinterest, one of the sources said. Buying 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 Holdings Inc (PYPL.O) has offered to buy digital pinboard site Pinterest Inc (PINS.N) for $45 billion, people familiar with the matter said on Wednesday, a combination that could herald more tie-ups between financial technology and social media companies in e-ecommerce.
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