Pinterest is in late-stage talks to be acquired by PayPal, a source familiar with the matter told The Wall Street Journal.
The talks are at an early stage and may not lead to a deal, the people cautioned. If they did, it would be big, as Pinterest has a market value of more than US$35 billion.
Pinterest went public in April 2019, where it was valued at just more than US$10 billion.
PayPal has largely benefited from the boom in online shopping since the start of the coronavirus pandemic. Last year, it pitted itself against the growing buy-now-pay-later companies with its “Pay in 4” offering. A potential acquisition of Pinterest could push the company into social commerce, a growing space that other tech giants are already working on.
In recent years, Pinterest has introduced more shopping features and also partnered with Shopify to make it easier for sellers to use Pinterest to reach potential customers.
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