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News In Brief Business and Economy

Paypal To Buy Pinterest, According To Reports.

News In Brief Business and Economy

Paypal To Buy Pinterest, According To Reports.

paypal-to-buy-pinterest-according-to-reports

News Synopsis

PayPal Holdings Inc is in talks to buy digital pinboard site Pinterest Inc, according to a source familiar with the situation. According to the corporations Pinterest is valued at about $39 billion at a price of $70 per share. The offer marks a 26% premium over Pinterest's closing price of $55.58 on Tuesday. The news comes less than a week after Pinterest co-founder Evan Sharp announced his resignation to join LoveFrom, a company led by Jony Ive, the designer of several well-known Apple products.

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