The PayPal logo is seen on a smartphone in front of the same logo displayed in this illustration taken September 8, 2021. REUTERS/Dado Ruvic/Illustrat

PayPal in $45 bln bid for Pinterest - sources

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2021-10-20 19:30:05

The PayPal logo is seen on a smartphone in front of the same logo displayed in this illustration taken September 8, 2021. REUTERS/Dado Ruvic/Illustration

Oct 20 (Reuters) - PayPal Holdings Inc (PYPL.O) has offered to buy digital pinboard site Pinterest Inc (PINS.N) for $45 billion, people familiar with the matter said on Wednesday, a combination that could herald more tie-ups between financial technology and social media companies in e-ecommerce.

The deal talks come as internet shoppers increasingly buy items they see on social media, often following "influencers" on platforms such as Instagram and TikTok. Buying Pinterest would allow PayPal to capture more of that e-commerce growth and diversify its income though advertising revenue.

PayPal has offered $70 per share, mostly in stock, for Pinterest, one of the sources said. The online payments provider hopes to successfully negotiate and announce a deal by the time it reports quarterly earnings on Nov. 8, the source added.

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