PayPal makes $45 billion offer to buy Pinterest

Asia's Tech News Daily

#PayPal, #Pinterest, report

PayPal’s offer carries a 26% premium over Pinterest’s current share price

PayPal has made a $45 billion offer to acquire Pinterest, according to a report by Reuters.

Pinterest is a digital pin board site. The image sharing and social media platform has been designed to enable users to save and discover new information or “Ideas” as it calls them.

The platform was created in 2009 by Ben Silbermann, Paul Sciarra and Evan Sharp. It currently has 478 million active users monthly, as on March 2021.

Sources close to Reuters said that if the deal goes through, it could enable more talks between financial technology companies and social media platforms in the future. The sources also cautioned that no deal was certain and the terms were liable to change.

Paypal’s shares have risen 36 percent during the pandemic, as more users have used its payment gateway for online shopping. Its valuation is currently at $320 billion.

Pinterest experienced a surge of its own as people flocked to the site for ideas on DIY projects or crafts. The company has warned of the growth slowing down, once the lockdown lifts.

The bet here is to use Pinterest’s digital scrapbook and pin board model to drive sales of products online. Internet shopping is heavily driven by people following “Influencers,” on social media platforms. With Pinterest under its umbrella, Paypal would be able to draw more income through advertising.

Paypal’s offer is a 26 percent premium over Pinterest’s current valuation, which is $55.58 per share. Paypal has offered to buy shares at $70 a piece.

“(The) combination would be a significant positive for PayPal’s ongoing monetization initiatives on both sides of its merchant and consumer platforms, especially if Pinterest’s social commerce platform gets integrated with Honey’s AI into PayPal’s destination app,” Wedbush analysts wrote in a note.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

PUBG maker Krafton has invested $6 million in this mobile games publisher

Krafton, a South Korean gaming giant behind the global smash hit “PlayerUnknown‘s Battlegrounds” (PUBG), on Tuesday said that it has invested $6 million in an Arabic mobile games publisherThe investment ... Read more »

All you need to know about the PS5 restock at Walmart tomorrow

Yet another PS5 restock is about to get underway at Walmart, but once again this latest batch of consoles will only be available to Walmart+ members. Here’s how to get ... Read more »

11 trendy pairs of women's flared pants to wear this winter

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. If you’re looking to stay on trend while maximizing your comfort ... Read more »

The first-ever quantum computing-powered security platform is here

Cryptographic keys generated by quantum computers are coming to the market after Cambridge Quantum announced the launch of a platform that can generate such keys. The company uses quantum computing ... Read more »

We should ban all new oil and gas fields

Despite fossil fuel use driving a climate crisis, new fields are still in development. Pxhere, CC BY-SA As a professor of geophysics, I have spent 36 years training young geologists ... Read more »

HCL Tech says it plans to hire 12,000 in US over 5 years

Indian software services exporter HCL Technologies said on Monday it will create 12,000 new jobs in the United States through the next five years as part of a plan to ... Read more »

Adobe Acrobat DC review

There’s a huge market for PDF editors, and various user groups that are constantly looking for specific features. If you’ve tried to find a PDF editor in the past, you’ve ... Read more »

Colin Farrell to return as Penguin in The Batman HBO Max spin-off

Back in September, reports emerged confirming that Warner Bros. is currently developing a Penguin-focused The Batman spin-off series for HBO Max – but Colin Farrell’s return to the role wasn’t ... Read more »

COVID-19: Inside a Cambridge research lab battling Omicron - video

The UK has recorded 101 new Omicron variant cases in past 24 hours taking total to 437 Read more »

These Wireless Chargers Can Upgrade Your Decor

Image Credit: Legrand 1. The no-plug outlet. Read more »

Trai to telecom companies: Allow port out SMS facility

Sector regulator TRAI on Tuesday directed telecom operators to “immediately” enable port out SMS facility for all mobile users requiring it, irrespective of value of their tariff offer, vouchers, or ... Read more »

Why can't we just put a space station on the Moon already?

is a series by that gives children the chance to have their questions about the world answered by experts. If you have a question you’d like an expert to answer, ... Read more »

‘Take a break': Instagram asks Gen Z users to spend less time using its app

Instagram on Tuesday launched a feature that urges teenagers to take breaks from the photo-sharing platform and announced other tools aimed at protecting young users from harmful content on the ... Read more »

Editing Microsoft Excel files online could finally get a lot simpler

Editing spreadsheets on the go or at work should soon be easier than ever thanks to a significant update to the web version of Microsoft Excel. Microsoft has revealed a ... Read more »

Alphabet Inc's Google Pay launches in Israel

Alphabet Inc’s Google Pay launched in Israel on Tuesday, with Israel’s major banks and credit card companies saying they had signed agreements with Google to offer the new payment service. ... Read more »

Google fined $121,000 by Russia

MOSCOW -Russia fined Alphabet’s Google 9 million roubles ($121,000), a Moscow court said on Tuesday, in the latest in a string of penalties against the technology giant for failing to ... Read more »

Firefox 95 update to add another security layer to protect against cyberattacks

Mozilla is claiming that with the new Firefox 95 update, its browser will become the most secure it has ever been. The Firefox 95 update adds a new sandboxing tool ... Read more »

Digital cross-border payment may make it hard to prevent financial crisis: Japan's top currency official

Japan‘s top currency official Masato Kanda said on Tuesday digital cross-border payment technology would boost regional growth, but regulations and preventing financial crisis may become difficult. Speaking at an event ... Read more »

30+ popular retailers offering buy now, pay later this holiday season

— Recommendations are independently chosen by Reviewed’s editors. Purchases you make through our links may earn us a commission. Christmas is less than a month away, which means the holiday ... Read more »

EU antitrust regulator seeks input on Microsoft's $16 billion Nuance deal

EU’s antitrust regulator is taking a deeper look into Microsoft Corp‘s $16 billion deal for transcription technology company Nuance Communications Inc, asking customers and competitors to draw up a list ... Read more »

Why Shell pulled out of the Cambo oilfield

Dabarti CGI/Shutterstock Shell has scrapped plans to invest in Cambo, a proposed oilfield off the Shetland Islands. The fossil fuel supermajor has been shedding UK assets for a while. It ... Read more »

New COVID drug 'effective against all mutations' of Omicron variant, says GSK

The makers of sotrovimab say it is effective against all mutations of the Omicron coronavirus variant. (PA) British pharmaceutical giant GlaxoSmithKline says it has developed a coronavirus drug that is ... Read more »

Max Verstappen warned he 'can't defend' against Lewis Hamilton pace at Abu Dhabi Grand Prix

Max Verstappen warned he ‘can’t defend’ against Lewis Hamilton pace at Abu Dhabi Grand Prix Red Bull team boss Christian Horner has warned driver Max Verstappen that Lewis Hamilton is ... Read more »

What is the Cameo app? Prices, how to use and more explained

A world in which Kevin from The Office, Jay from the Inbetweeners, and Karl Kennedy from Neighbours rule the roost may sound like the hazy figment of a beautiful imagination, ... Read more »

Computer scientist who claims he invented Bitcoin wins major court case

A Florida jury found that Craig Wright did not owe half of 1.1 million Bitcoin to the family of David Kleiman, who was his business partner. Read more »

Browser wars: Microsoft Edge is beginning to steal users from Google Chrome

New data suggests Microsoft Edge is slowly beginning to lure users away from Google Chrome, which has had a stranglehold on the web browser market for years now. According to ... Read more »

6 expert tips to get the salary you want

This article was originally published on .  Money is a universally taboo subject. That’s why negotiating a salary is tricky, not just for fresh job-hunters, but even for those with ... Read more »

Several 2021 MacBook Pro users are facing issues with the SD card reader

The SD card slot on the new 2021 MacBook Pro was among the most highlighted features by the company. However, it seems that some users are facing issues while using ... Read more »

Google Pixel Buds A Series latest update brings new options to the earbuds

Google is rolling out a new firmware update for its Pixel Buds A-Series true wireless earbuds. Droid-Life is reporting that the update brings several new features and improvements to the ... Read more »

WhatsApp may reportedly log you out of linked devices

Recently, WhatsApp rolled out multi-device feature for all beta users. The feature allows users to access the platform on multiple devices even if there is no connectivity on the main ... Read more »

European activists fight for right to repair electronics

1 / 4Denmark Right to RepairA volunteer repairs a circuit board at a fortnightly repair cafe event in Malmo, southern Sweden, Sunday Nov. 14, 2021. A global network of free-of-charge ... Read more »

Alexa Together: Amazon launches service to help care for seniors

Amazon’s Alexa has a new role: helping seniors and caregivers. On Tuesday, Amazon launched Alexa Together in an effort to help aging consumers and family members or friends who assist ... Read more »

Stuff any stocking with this AirPods alternative for just $16 (save $16)

We may receive commission from purchases made via links on this page. Pricing and availability are subject to change. I don’t know how these earbuds are just $16, especially given ... Read more »

Orthland Fire Pit Table Review 2021

Welcome back to The Ultimate Tech Hub. On today’s episode we are Reviewing a 44 Inch 50,000 BTU Outdoor Gas Fire Pit Table from ORTHLAND. The price for this beautiful ... Read more »

Android you can start my car: BMW's new connected car capabilities

Earlier this month, we saw Android issue . The update enables Android users to use their mobile to lock, unlock, and even start a compatible car. The most interesting factor is ... Read more »

Video: Injured sea turtle from Maldives finds forever home in Scotland

General manager at Sea Life Loch Lomond said April is now feeling "perfectly comfortable" and has "lots of space to explore". Read more »

Get the most out of Google search: Talking Tech podcast

Hit play on the player above to hear the podcast and follow along with the transcript below. This transcript was automatically generated, and then edited for clarity in its current ... Read more »

Londoner's Diary: Andrew Neil tells Jennifer Arcuri he'll take action over Epstein tweet

Jennifer Arcuri (Getty Images) Broadcaster Andrew Neil says he intends to take legal action against Boris Johnson’s former close friend Jennifer Arcuri for a social media post falsely alleging links ... Read more »

Sheridan Smith pulls out of Strictly Come Dancing Christmas special at last minute

Sheridan Smith has reportedly pulled out of performing on the Strictly Christmas special. (Getty Images) Sheridan Smith has reportedly pulled out of appearing on the Strictly Come Dancing Christmas special ... Read more »

Thousands of emails ignored as PM pretended desperate Afghans were getting UK help

A whistleblower has said emails from desperate Afghans during the Taliban‘s takeover of Kabul were opened but left unread. (PA) Thousands of emails from desperate Afghans trying to flee the ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic