PayPal is in talks to buy Pinterest

Texas News Today

PayPal Holdings Ltd.

PYPL -5.91%

Negotiations to buy the social media platform Pinterest Ltd.,

Pin 11.34%

According to people familiar with the matter, this is a step towards taking the big payments business in a new direction.

People warned that talks are in the early stages and there may be no compromise. If so, then the market value of Pinterest would exceed $35 billion, which would be huge.

News of the deal, first reported by Bloomberg, squeezed PayPal’s shares, which fell nearly 6% on Wednesday afternoon. Pinterest’s share was up about 11%.

write in Dana Similuca ([email protected]) and Cara Lombardo ([email protected])

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