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PayPal Is in Talks to Buy Pinterest

PayPal Is in Talks to Buy Pinterest

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 -5.88%

is in talks to buy social-media platform

Pinterest Inc.,

PINS 13.65%

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 dana.cimilluca@wsj.com and Cara Lombardo at cara.lombardo@wsj.com

Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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