As we know, Pinterest is the largest image platform in the entire world. But something new has left us astonished — a message from Pinterest and PayPal announcing that Pinterest is a high-interest target for PayPal, with an offer on the table: a very high figure for this social network, specifically a little over $40 billion, which amounts to approximately 807,373,600,000 Mexican pesos. In short, PayPal is buying Pinterest.
PayPal says it is a unique fintech and that it would be a great business move, since PayPal has users who benefit from its services more than 8 to 9 thousand times per month. It sees this as a better way to support businesses and generate sales, especially since the pandemic caused many businesses and companies to lose advertising reach and sales.
Did PayPal deny wanting to buy Pinterest?
After a massive offer — as big as Texas — PayPal denied wanting to buy the app because, according to statistics from its press releases, PayPal’s shares rose 6% in after-hours trading, while Pinterest dropped 6%. This development caused the confirmed $40 billion acquisition news to be completely walked back. This could have been a major growth opportunity for PayPal, since today many young people buy things they see on social media, including Pinterest.