PayPal In Talks To Acquire Pinterest In $45 Billion Deal

Market Watch reports:

PayPal Holdings Inc.’s quest to become a “super-app” may be kicking into a new gear following reports that the company has held acquisition talks with Pinterest Inc.

The financial-technology company has been expanding beyond payments and into other areas of financial services and commerce, driven by a revamp of its app to emphasize features like crypto purchasing and savings accounts, as well as recent acquisitions, including of the deals platform Honey.

The goal is to become a “super-app” similar to apps like WeChat and Alipay, which have become dominant in Asia by bundling financial services along with features like messaging, social media, and food delivery

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PayPal has offered to buy Pinterest in a deal valued at about $45 billion, according to people with knowledge of the discussions. If a deal were to be completed, it would be one of the largest consumer internet purchases in recent history. https://t.co/x0QaeQR029

— The New York Times (@nytimes) October 20, 2021