American media reported that the shares of Pinterest rose by about 13%, following news of a possible acquisition by PayPal.
The US network, CNBC, said on Wednesday evening that the sharp rise in the shares of the social networking company “Pinterest” came after a report that “Paypal” may acquire it.
PayPal is a merchant platform that allows users to transfer money via the Internet and e-mail to different addresses.
And the American news agency “Bloomberg” quoted informed (unnamed) sources that “Paypal Holding Company” is studying the idea of acquiring the social networking company “Pinterest”.
Sources said that San Jose, California-based PayPal recently contacted Pinterest to talk about a potential deal.
One of the sources said the two companies had discussed a potential price of about $70 per share.
According to this share price, the market value of Pinterest is estimated at $39 billion.