PayPal Inc says it’s not looking to acquire Pinterest as Sharehders Eschew

Recent reports on one of Paypal’s trendy deals suggests that PayPal Holdings Inc has dismissed it’s plans to acquire the photo/ video social media Pinterest Inc, a deal which was said to be worth around $45-billion in acquisition of Pinterest Inc.

This incident came out right after the payments company’s shareholders eschew. However, PayPal in a statement released late Sunday said that it was “not pursuing an acquisition of Pinterest at this time.”

Meanwhile the deal talks for which was unveiled last week, would have lead to a new era for both company’s as it would have symbolized the combination of a financial payments firm with wider goal and a photo/video-sharing platform that has transcend beyond measures
to fully atain the benefits of its role in e-commerce.

PayPal had earlier discussed the acquisition of the company for a potential price of around $70 a share, which would place Pinterest at a value worth about $45 billion. The valuation added the company’s preferred Class B shares. But if removing those shares, the deal worth would be at a value of $39 billion.

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