Latest news! Payment giant PayPal denies acquisition of Pinterest!

It is learned that last week, there were media reports that the US payment giant PayPal will acquire the US social e-commerce Pinterest for up to US$45 billion. After the news was reported, Pinterest's stock price soared by nearly 12%.

On October 26, PayPal responded that it had no intention of acquiring Pinterest: "it is not pursuing an acquisition of social media firm Pinterest "at this time" . It is reported that PayPal's stock price rose 6.2% in pre-market trading on Monday, while Pinterest's stock price fell about 10%.

PayPal did not provide further details in its statement. The companies did not respond to requests for comment.

It is learned that Paypal has completed some acquisition plans this year, including the acquisition of "Japanese Huabei" Paidy for US$2.7 billion. In May, it acquired an online product return company Happy Returns to strengthen its e-commerce products. And in 2019, it acquired the shopping rebate platform Honey Science for US$4 billion.

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