News has recently surfaced from Bloomberg who say PayPal are looking to acquire Pinterest for $45 billion in what would be the biggest social media acquisition to date.
Although it has been stated that a deal is not definite the sources say that a price of around $70 a share has been discussed. The deal to acquire Pinterest would also help the platform find its feet once again after they faced some step-downs and discrimination accusations.
We are living in a time where social media is a hugely important part of online shopping. Platforms like Pinterest give consumers a place to see and share the things they like and then purchase those things for themselves. It is also a hot spot for influencers, a great asset to brands. Pinterest would likely become a beneficial asset to PayPal especially considering the growing popularity of the platform with ecommerce sellers and the potential within business advertising. Since the rise in consumers going online to do their shopping PayPal have seen their stock double in a year and on Wednesday the company was valued at $304 billion.
Pinterest would be the next in a series of acquisitions that PayPal have made over the past few years. In 2018 they acquired iZettle as part of it’s move into new markets. Shortly after they agreed to aquire Honey to give them access to consumer data. Then earlier this year they also acquired Japanese buy now pay later company Paidy.
Losing eBay must have been a big hit to PayPal.
It is becoming probably a bit less used and even known.
I have it on the website and only about 20% of the transactions actually go through it ( which is good because it is expensive) much prefer it when customers use Stripe. I think I may just bump PayPal it means I can be more competitive with Stripe fees.
PayPal with all their “buyer protection fear nonsense” is old now and people are comfortable to use different check-outs.
Pinterest keep emailing me about advertising with them but TBH they kinda missed the boat I think as a shopping destination and should have had a direct checkout ages ago it could have worked.
Hey Sam – just to put an alternative view on it – we love paypal and have it available on our website and also use it for card processing and replaced Stripe with it. Stripe have no customer service at all – or didn’t when we used them. We pay 1.4% on paypal on an agreed fee so is the same – we never have issues and can also speak to someone at Paypal quickly if we need to and find them really supportive and helpful.
I think Paypal will be doing just great without eBay – don’t forget people use Paypal on ebay still, just to a different account. The new pay in 3 service is also popular with our customers and the support to get banners working for that was great (They paid us to do it).
As for Pinterest – never used it, not sure what it is – maybe at that value I am missig something.
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