PayPal Holdings Inc. is looking to acquire social media company Pinterest Inc. for $45 billion, according to reports from both Reuters and Bloomberg (each of whom cites anonymous people familiar with the matter).
The pandemic and resultant acceleration of ecommerce adoption have left PayPal in a position to finance the deal “mostly with stock,” their sources say.
PayPal stock is up 36% in the last 12 months, giving the O.G. fintech brand a market cap of almost $320 billion.
Pinterest has grown its audience to over 400 million monthly active users.
That audience could prove incredibly lucrative or PayPal, given that Pinterest’s userbase is over 60% female and consists of over 45% of people in the U.S. with an annual household income over $100,000.
Pinterest reports that members who visit Pinterest weekly outspend non-Pinners by 2x every month and have an 85% larger basket size.
Pinterest had already been dipping its toes in the ecommerce pond; in fact, the visual social network made…
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