PayPal is probably best known for being a platform that allows people to send and receive money, where people can make purchases on websites and use PayPal to facilitate the payments. However, it seems that the company could be looking to expand beyond just offering such a service.
According to multiple reports from Reuters and Bloomberg, it appears that PayPal is in late-stage talks about possibly acquiring Pinterest for a whopping $45 billion. It seems like an odd purchase for PayPal since on the surface, Pinterest doesn’t really seem like the type of company PayPal would buy.
However, given the rise of social commerce where we’re seeing more social media platforms allowing users to make purchases directly within its platform, it looks like PayPal wants in on some of that action. Plus as Engadget notes, Pinterest is a safe buy as the company has largely avoided the misinformation scandals and accusations that other platforms like Facebook have faced over the years.
There is no word on when this deal is expected to go through, if at all, so we’ll just have to wait and see. If it does happen though, we imagine that for the most part PayPal will continue to allow Pinterest to run as it is, and maybe we could see PayPal further integrate itself into the platform.