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Report: Microsoft seeks to acquire Pinterest for social media

 

The Financial Times, citing people familiar with the matter, reported that Microsoft has approached Pinterest Inc. in recent months about a potential $ 51 billion social media acquisition deal, and the report said negotiations were not currently active.
 
Pinterest also benefited from the general shift to virtual interactions that led to increased engagement on social media platforms, with the number of monthly active users jumping 37% to 459 million in the fourth quarter, and the company said it added a record of 100 million monthly active users in a year. 2020.
 
Pinterest shares have risen more than seven times from their epidemic drop in March of last year, and the Financial Times said Pinterest had previously indicated its desire to remain an independent company.
 
The social media company generates revenue by placing ads next to the pins or posts uploaded to the site by the users.
 
The deal between the two companies would also test the Biden administration's appetite for letting powerful tech firms do deals, according to the Financial Times.
 
The companies did not respond to Reuters' requests for comment.

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