A Pinterest installation at the company’s offices. Pinterest has a market value of more than $35 billion.
Photo: handout/Reuters
PayPal Holdings Inc. PYPL -5.74% is in talks to buy social-media platform Pinterest Inc., PINS 13.30% according to people familiar with the matter, in a move that would take the payments giant’s business in a new direction.
The talks are at an early stage and may not lead to a deal, the people cautioned. If they did, it would be big, as Pinterest has a market value of more than $35 billion.
News of the deal, first reported by Bloomberg, weighed PayPal shares, which were down roughly 6% Wednesday afternoon. Pinterest shares were trading up roughly 11%.
Write to Dana Cimilluca at [email protected] and Cara Lombardo at [email protected]
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