Pin for purchase: PayPal negotiates the acquisition of Pinterest, according to reports

The social network Pinterest is once again surrounded by rumors about a possible sale to PayPal , according to reports.

Since the last records in the TikTok case , the news of a possible acquisition did not generate as much interest. According to reports, PayPal is preparing the ground for the purchase of Pinterest , a social network based on the collection of ideas and that, for years, has maintained a community closely linked to the development of personal projects.

According to Bloomberg , the negotiations have been kept confidential; although the publication of the first part of the story caused the shares of the social network to rebound by 11%. The company’s valuation would be around $ 70 per share, accumulating a total value of $ 39 billion.

Not the first attempt to buy Pinterest

It is not the first time that a megacorporation has tried to take over this social network. In February of this year, Microsoft tried to acquire the shares of Pinterest , but the agreement was not finalized.

Microsoft was emerging from a difficult time in which it was competing with Oracle for control of TikTok in the United States. None of the companies reached an agreement after the departure of former President Donald Trump, the main promoter of the negotiations.

Social commerce: PayPal’s next step

Since the beginning of the pandemic, PayPal has been able to consolidate its service as a remote payment platform. However, over time it has encountered increasing competition in the sector of digital gateways and online transactional systems, with Shopify as one of the strongest on North American soil.

Shopify has invested heavily in combining e-commerce and financial technology. With some projects worked with Google for the conversion of YouTube as a platform for direct purchases .