PayPal Says Not Pursuing Acquisition Of Pinterest At This Time

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  • Payments firm PayPal Holdings Inc PYPL is not pursuing an acquisition of visual search and scrapbooking platform Pinterest PINS at this time.
  • Earlier, there were market rumors that PayPal has recently discussed a possible price of around $70 a share, valuing Pinterest at $45 billion.
  • The Pinterest deal would have given PayPal, which paid $4 billion last year for couponing and price-comparison app Honey Science, even more data about the products consumers are buying and the ability to advertise or offer discounts based on that data potentially, Bloomberg reports.
  • Related Content: BofA On PayPal's Potential Pinterest Buyout
  • Price Action: PYPL shares traded higher by 4.45% at $251.04, while PINS is down 13.4% at $50.26 in the premarket session on the last check Monday.
Posted In: M&ANewsTechMediaBriefs
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