PayPal is said to be in talks to buy Pinterest in a $45 billion deal.

PayPal, the digital payments company, has offered to buy about $ 45 billion worth of Pinterest, the digital pin board company, according to …

PayPal, the digital payments company, has offered to buy about $ 45 billion worth of Pinterest, the digital pin board company, according to people familiar with the discussions.

PayPal offered Pinterest around $ 70 per share, people said, up 25 percent from Pinterest’s opening price on Wednesday. Pinterest stock rose about 13 percent after reports of the potential transaction, bringing the company’s valuation to $ 39 billion, and trading on the New York Stock Exchange was suspended twice on Wednesday. Bloomberg first reported the news of deal talks.

A Pinterest spokeswoman declined to comment. PayPal did not respond to a request for comment.

Should a deal be struck, it would be one of the largest consumer internet purchases in recent history, surpassing Salesforce’s acquisition of Slack last year for $ 27.7 billion. It would also be one of the largest acquisitions for PayPal, spun off from eBay in 2015 and valued at $ 306 billion.

PayPal is facing increasing competition in digital payments. Stripe, a start-up that provides payment services to businesses, has gained ground in recent years, reaching a private value of $ 95 billion.

In recent years, PayPal bought Paidy, a Japanese lending company, and iZettle, a Swedish payment processor.Those deals had a more direct tie-in to its digital payments services, which people use to pay for goods and services online without needing a credit card.

Pinterest, which people use to save images to digital pinboards, makes money by selling ads. Since many of its “pins” are products, the company offers “Buyable Pins” so users can shop directly inside its app. Instagram, the photo-sharing app owned by Facebook, has recently made a similar push into e-commerce.

Pinterest was founded in 2009 and went public in 2019. Over the last year, its share price hit new highs as it reported robust revenue and user growth in the pandemic.

Pinterest has also faced criticism after lawsuits and allegations it mistreated female employees. Last year, two Pinterest employees spoke out about sexism and racism they experienced at the company. Pinterest’s top female executive also sued for discrimination and retaliation, leading to a $22.5 million settlement. Outrage over those stories prompted several hundred Pinterest workers to stage a virtual walkout last year.

This year, a woman who said she co-created Pinterest alongside its founders sued the company for breach of implied contract. Pinterest said the claims were without merit.

This is a developing story. Check back for updates.

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