PayPal eyeing purchase of Pinterest

PayPal is discussing the purchase of the Pinterest service, learned Bloomberg . If it takes place, 2021 will surpass the record year 2007 in terms of the amount of M&A transactions.

According to the agency, the deal remains potential, but the amount of about $45 billion was discussed. It makes sense, because if successful, one of the largest payment services (PayPal) will get access to a large social platform comparable to Instagram, and most importantly, actively developing e-commerce. commerce.

Bloomberg writes that PayPal has set its sights on creating a super app along the lines of Alipay or WeChat and plans to increase the number of active users to 750 million by 2025 from 400 million total audience now.

On the news of the deal, Pinterest quotes rose by 13%, PayPal fell by almost 6%. Pinterest held an IPO in 2019 alone at a valuation of just over $10 billion, PayPal is now worth about $300 billion, and the service’s capitalization has more than doubled over the pandemic year.

This transaction will be enough to bring the amount of M&A transactions in 2021 to $4.11 trillion, which is more than a record $4.07 trillion in 2007, Bloomberg notes.