PayPal bid for Pinterest could create new ecommerce powerhouse

Pinterest App iPhone

PayPal has made a bid for social media giant Pinterest, sparking rumours of a new force in ecommerce.

The payments provider is in talks to acquire Pinterest for $45bn, which works out at $70 per share.

This would be a 26% premium on Pinterest’s share price on Tuesday evening. Its shares soared 13% to $63.31 following the news.

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