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Pinterest shares soar on reports PayPal may buy it



PayPal is exploring an acquisition that would value Pinterest at around $ 39 billion, Bloomberg reported for the first time, citing people with knowledge of the matter. Reuters and the Wall Street Journal he also reported PayPal’s interest, citing sources. The companies did not immediately respond to a request for comment from CNN Business.
Actions of Pinterest (PINS) rose nearly 12% Wednesday afternoon, before giving up some of those gains.
Pinterest, often considered a nicer corner of the internet, however, has faced some controversy. The company announced earlier this year that would ban ads related to weight loss after problems with the content of your platform that promoted potentially harmful eating habits and lifestyle.
Pinterest also paid $ 22.5 million last year to settle one demand for gender discrimination led by its former head of operations Francoise Brougher. (Pinterest did not accept any liability as part of the settlement.)
PayPal (PYPL) has a track record of major ticket acquisitions, buying Japanese service Paidy to buy for $ 2.7 billion last month. The company’s previous purchases include the Venmo and mobile payment platform Honey shopping rewards site.
In recent years, Pinterest has introduced more shopping features as well partnered with Shopify to make it easier for sellers to use Pinterest to reach potential customers.