PayPal has said that it is not planning to buy Pinterest at the moment following recent media reports of potential acquisition.
Last week sources at Bloomberg claimed that PayPal was exploring a $45 billion buyout of the social media platform.
The reported price of $70 per share would have represented a 26 per cent premium on Pinterest’s closing price.
According to a report by Reuters, shares at the FinTech jumped by 6.2 per cent to $255.20 in premarket trading on Monday. But Pinterest took a hit, with shares falling roughly 10 per cent to $52.50.
Pinterest, founded in 2009, has more than 450 million users worldwide and experienced rapid user growth over the pandemic. The image sharing and social media website enables the saving and discovery of images, GIFs, and videos.
News of the potential buyout came after the platform introduced new e-commerce focused features earlier in October, allowing its “pins” to become more shoppable.
Collections on Pinterest can now include slideshows, allowing merchants to create video-like shoppable ad experiences via catalogue integrations.
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Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
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Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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