- Aug 17, 2014
In brief: Payments processing specialist PayPal has reportedly offered to purchase digital pinboard company Pinterest. Sources familiar with the matter told The New York Times that the deal on the table is worth roughly $45 billion, with PayPal willing to pay around $70 per share. That would represent a healthy 25 percent increase over Pinterest’s opening price of around $56 on Wednesday.
Speaking of share value, Pinterest is currently trading up nearly 14 percent on the day at $63.37 as of this writing.
The NY Times said a spokesperson for Pinterest declined to comment, and that PayPal had not responded to a request for comment by their publication deadline.
Should the deal pan out, it would be one of the largest Internet-related acquisitions in recent memory and one of PayPal’s largest purchases.