PayPal is reportedly mulling to acquire the social media company Pinterest for $45 billion in what could be the biggest technology deal of the year, according to Bloomberg.
With this move, the California-based payments firm eyes becoming a “super app.”
Bloomberg said that in the new deal, Paypal will pay around $70 a share, which would value the whole company at about $45 billion.
If succeeded, this deal will be PayPal’s biggest-ever acquisition, after its last purchase of price-comparison app Honey Science Corp for $4 billion.
As soon as the news broke, Pinterest's shares price soared about 12%.
