TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentralTechCentral
    NEWSLETTER
    • News

      Consortium makes unsolicited bid for state’s 40% stake in Telkom

      12 August 2022

      Actually, solar users should pay more to access the grid – here’s why

      12 August 2022

      Fixing SA’s power crisis is not complex: it simply takes the will to do better

      12 August 2022

      Telkom says MTN talks remain on track

      12 August 2022

      Analysis | Rain muddies the waters with approach to Telkom

      11 August 2022
    • World

      Huawei just booked its first sales rise since US blacklisting

      12 August 2022

      Apple remains upbeat about iPhone sales even as Android world suffers

      12 August 2022

      Ether at two-month high as upgrade to blockchain passes major test

      12 August 2022

      Gaming industry’s fortunes fade as pandemic ends

      11 August 2022

      Disney tops Netflix in streaming subscribers

      11 August 2022
    • In-depth

      African unicorn Flutterwave battles fires on multiple fronts

      11 August 2022

      The length of Earth’s days has been increasing – and no one knows why

      7 August 2022

      As Facebook fades, the Mad Men of advertising stage a comeback

      2 August 2022

      Crypto breaks the rules. That’s the point

      27 July 2022

      E-mail scams are getting chillingly personal

      17 July 2022
    • Podcasts

      Qush on infosec: why prevention is always better than cure

      11 August 2022

      e4’s Adri Führi on encouraging more women into tech careers

      10 August 2022

      How South Africa can woo more women into tech

      4 August 2022

      Book and check-in via WhatsApp? FlySafair is on it

      28 July 2022

      Interview: Why Dell’s next-gen PowerEdge servers change the game

      28 July 2022
    • Opinion

      No reason South Africa should have a shortage of electricity: Ramaphosa

      11 July 2022

      Ntshavheni’s bias against the private sector

      8 July 2022

      South Africa can no longer rely on Eskom alone

      4 July 2022

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»Sections»PayPal in ‘$45-billion bid to buy Pinterest’

    PayPal in ‘$45-billion bid to buy Pinterest’

    Sections By Agency Staff20 October 2021
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    PayPal has made an offer to buy digital pinboard site Pinterest for US$45-billion, people familiar with the matter said on Wednesday, a combination that could herald more tie-ups between fintech and social media companies in e-ecommerce.

    The per share price would represent a 26% premium to Pinterest’s closing price of $55.58 on Tuesday.

    PayPal plans to finance the acquisition mostly through stock, the sources said.

    The payments behemoth was among the big winners of the pandemic as more people used its services to shop online and pay bills to avoid stepping out. The pandemic boost over the past 12 months have driven up its shares by about 36%, giving it a market capitalisation of nearly $320-billion.

    PayPal’s shares were down about 3.5% on Wednesday, while Pinterest was up over 10%

    PayPal’s shares were down about 3.5% on Wednesday, while Pinterest was up over 10% at $61.55. Pinterest’s shares, which had jumped over 13% earlier in the day forcing trading to be halted briefly, have shed about 16% of their value this year.

    San Jose, California-based PayPal and Pinterest did not immediately respond to requests for comment. The sources requested anonymity as the discussions are confidential.

    News of the potential deal comes less than a week after Pinterest co-founder Evan Sharp announced plans to leave the company to join LoveFrom, a firm led by Jony Ive, the designer of many iconic Apple products.

    Growing ambitions

    Sharp founded the San Francisco, California-based online scrapbook and photo-sharing platform along with Ben Silbermann, who is the company’s CEO, and Paul Sciarra, who left in 2012.

    Over the past few years, PayPal has displayed growing ambitions to increase its footprint in online shopping through a series of acquisitions, including a $4-billion deal to buy online coupon finder Honey Science in 2019, a $2.7-billion deal to buy Japanese buy-now-pay-later firm Paidy in September this year, and a deal to buy return-service provider Happy Returns in May.  — Reported by Greg Roumeliotis, with additional reporting by Noor Zainab Hussain and Krystal Hu, (c) 2021 Reuters

    PayPal Pinterest
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleCould Facebook’s new name be Meta?
    Next Article Bitcoin powers to a new record high

    Related Posts

    Huawei just booked its first sales rise since US blacklisting

    12 August 2022

    Consortium makes unsolicited bid for state’s 40% stake in Telkom

    12 August 2022

    Actually, solar users should pay more to access the grid – here’s why

    12 August 2022
    Add A Comment

    Comments are closed.

    Promoted

    Pricing Beyond CMYK: printers answer the FAQs

    11 August 2022

    How secure is your cloud?

    10 August 2022

    5 ways to make attack-path management more manageable

    10 August 2022
    Opinion

    No reason South Africa should have a shortage of electricity: Ramaphosa

    11 July 2022

    Ntshavheni’s bias against the private sector

    8 July 2022

    South Africa can no longer rely on Eskom alone

    4 July 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.