PayPal in talks to buy Pinterest
Payments behemoth PayPal Holdings is in talks to buy digital pinboard site Pinterest.
The companies have discussed a potential price of $70 per share, according to Bloomberg News.
This would value Pinterest at around $39bn.
The price would represent a 26 per cent premium to Pinterest’s closing price of $55.58 on Tuesday.
PayPal’s shares were down about 3.5 per cent, while Pinterest’s shares were up over 10 per cent at $61.55.
News of the potential deal comes months after Microsoft’s attempts to acquire Pinterest earlier this year.
It also follows Pinterest’s co-founder Evan Sharp’s plans to leave the company to join LoveFrom, a firm led by Jony Ive, the designer of many iconic Apple products.