PayPal Is Exploring a Purchase of Pinterest

San Jose, California-based PayPal has recently approached Pinterest about a potential deal, the people said, asking not to be identified because the talks are private. The companies have discussed a potential price of around $70 a share, the people said.

That would value Pinterest at about $45 billion for the entire company, including its Class B shares. A deal at that level would represent about a 26% premium to Pinterest’s Tuesday closing price of $55.58.

Pinterest shares surged 13% to $62.92 each at 2:09 p.m. in New York trading Wednesday, after earlier triggering a trading halt. Shares of PayPal were down 5.7%, giving the company a market capitalization of about $301 billion.

We are primarily funded by readers. Please subscribe and donate to support us!

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.