Member Exclusive, Payments

With an eye on becoming a super app, PayPal in talks to buy social media app Pinterest

  • PayPal is scouting a $45 billion acquisition of Pinterest, one of the biggest social media apps.
  • It's in line with the payments company’s plans of becoming a super app by combining an e-commerce platform with financial products
close

Email a Friend

With an eye on becoming a super app, PayPal in talks to buy social media app Pinterest

PayPal is reportedly looking to secure the biggest tech deal of the year and buy social media app Pinterest in a $45 billion deal first reported by Bloomberg.

Bloomberg said the companies are discussing an offering of $70 a share for the social media app, a 1.26x multiple on the closing price on Tuesday before the deal was reported.

This move would represent PayPal’s entry in the advertising business, aiming to bring the payments company closer to being a “super app” – like China’s WeChat or Alipay – offering users a digital e-commerce and finance ecosystem.

“Previously disparate parts of the physical world are coming together in the digital world, like payments, basic consumer financial services, shopping tool sets, deals, offers, wish lists,” said PayPal CEO Daniel Schulman at an investment conference last month.

The transaction would also be PayPal’s biggest acquisition to date, after it bought online coupon startup HoneyScience for $4 billion in 2019. 


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “With an eye on becoming a super app, PayPal in talks to buy social media app Pinterest”

Payments, Sponsored

Visa accelerates innovation of global money movement with new Visa Direct Preferred Partner program

  • Visa Direct solution providers can now access the right business tools, technical training, sales, and go-to-market resources to help build successful global money movement solutions.
  • With over 25 global partners enrolled in the program to date, the program has plans to expand to three additional countries in the coming months.
Visa | August 10, 2022
Member Exclusive, Payments

Payments Briefing: What do FIs need to know about payments in the metaverse?

  • This week, we look at how and why traditional FIs and fintechs should be thinking about payments in the metaverse.
  • We also discuss why card giants like Mastercard, Visa, and Amex are getting involved in sonic branding.
Ismail Umar | August 04, 2022
Payments, Power of Payments Podcast

Power of Payments Ep. 11: ‘There’s a lot of heart in our business when you really understand our customers’ – Remitly’s Matt Oppenheimer

  • Matt Oppenheimer, co-founder and CEO of Remitly, joins host Ismail Umar on this week’s podcast.
  • He talks about the evolution of the remittance industry over the last decade, the changing needs of Remitly's customers, the potential role of crypto in remittances, and the future of global money movement.
Ismail Umar | August 01, 2022
Payments

Marqeta’s Vidya Peters on the evolution of consumer behavior and payment trends

  • What is Marqeta doing differently in payments?
  • Consumer behavior underwent lasting changes during the pandemic -- how can the tech behind digital transactions keep pace?
Sara Khairi | July 18, 2022
Payments, Podcasts, Power of Payments Podcast

Power of Payments Ep. 10: Digital payments and overspending, Revolut Reader, mobile wallets vs physical wallets, and more

  • This week, we discuss how digital payments make it easier for young consumers to overspend, and how the global microchip shortage is impacting the payments industry.
  • We also talk about Revolut's first venture into in-store payments, as well as the growing level of consumer trust in mobile wallets.
Ismail Umar | July 15, 2022
More Articles