PayPal Holdings Inc. is in talks to buy social-media platform Pinterest Inc., PINS 12.77% according to people familiar with the matter, a move that could enable the payments giant to play a bigger role in a customer’s shopping experience, Report informs, citing the Wall Street Journal.
The talks are at an early stage and may not lead to a deal, some of the people cautioned. If there is one, it would be big, as Pinterest has a market value of some $40 billion.
Pinterest is an online-sharing platform on which users share photos and links to recipes and home-decor ideas. It makes money from advertisements that appear on the platform, but e-commerce is in its sights, too. In April, Pinterest expanded a partnership it struck in 2020 with e-commerce software provider Shopify Inc. to reach consumers in 27 more countries, up from just the U.S. and Canada previously.
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