PayPal responds to 'market rumors' that it is about to buy Pinterest
Pinterest, which allows users to create and share image boards, went public in April 2019, where it was valued at just more than $10 billion. Its market cap today sits at around $37 billion.
Andrew Jeffrey, Trust Securities analyst, told CNBC last Thursday that he was skeptical of a PayPal-Pinterest merger. "A move to make another online deal, even in social media, just doesn't make a lot of sense long term," Jeffrey said, adding that PayPal needs to monetize in the physical world. "Unless the company can monetize off of e-com with Venmo, we think it's growth is ultimately going to revert toward e-com growth and that kind of deceleration is not currently priced into the stock," he added.
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