the now-pay-later company Paidy (BNPL) in September this year, and an agreement to purchase the Happy Returns return service provider in May.īloomberg News reported on the talks between PayPal and Pinterest earlier on Wednesday. , a $ 2.7 billion deal to buy Japanese purchases. In recent years, PayPal has shown growing ambitions to expand its footprint in online shopping through a series of acquisitions, including a US $ 4 billion deal to buy online coupon finder Honey Science in 2019. Pinterest Inc said on Thursday co-founder Evan Sharp is leaving the company to join LoveFrom, a firm led by Jony Ive, the designer of many iconic Apple products. Sharp founded the San Francisco, Calif., Online photo and album sharing platform with Ben Silbermann, the company’s chief executive, and Paul Sciarra, who left in 2012. News of the potential deal comes less than a week after Pinterest co-founder Evan Sharp announced his intention to leave the company to join LoveFrom, a company run by Jony Ive, the designer of many iconic products from the company. The sources requested anonymity as the discussions are confidential. PayPal and Pinterest, based in San Jose, Calif., Did not immediately respond to requests for comment from Reuters. ![]() Shares of Pinterest, which had jumped more than 13% earlier in the day, forcing trading to be briefly halted, have lost about 16% of their value this year. Shares of PayPal were down about 3.5% on Wednesday, while Pinterest rose more than 10% to $ 61.55. ![]() The pandemic boost over the past 12 months has pushed its shares up about 36%, giving it a market cap of nearly $ 320 billion. The payments giant has been among the big winners in the pandemic, as more people have used its services to shop online and pay bills to avoid going out. PayPal plans to fund the acquisition primarily through stocks, the sources said. The price per share would represent a 26% premium over Pinterest’s closing price of $ 55.58 on Tuesday. has made an offer to buy digital signage site Pinterest Inc for $ 45 billion, people familiar with the matter said on Wednesday, a combination that could herald more links between fintech and media companies. (This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.PayPal Holdings Inc. (Additional reporting by Noor Zainab Hussain in Bengaluru Editing by Maju Samuel) Sharp founded the online scrapbook and photo-sharing platform along with Ben Silbermann, who is the company's chief executive officer, and Paul Sciarra, who left in 2012. News of the potential deal comes less than a week after Pinterest co-founder Evan Sharp announced plans to leave the company to join LoveFrom, a firm led by Jony Ive, the designer of many iconic Apple products. PayPal's shares were down about 3.5%, while Pinterest's shares were up over 10% at $61.55. The source requested anonymity as the discussions are confidential. PayPal and Pinterest did not immediately respond to Reuters' requests for comment. The price would represent a 26% premium to Pinterest's closing price of $55.58 on Tuesday. ![]() The companies have discussed a potential price of $70 per share, which would value Pinterest at around $39 billion, according to Bloomberg News. Payments giant PayPal Holdings Inc is in talks to buy digital pinboard site Pinterest Inc, according to a person directly familiar with the matter. Reuters | Updated: 20-10-2021 21:38 IST | Created: 20-10-2021 21:35 IST Representative image Image Credit: Pixabay
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |