[ad_1]
Microsoft Corp. has made openings to buy Pinterest Inc. in recent months, the Financial Times reported on Wednesday evening.
Acquisition talks are currently not active, the FT reported, adding that in the past Pinterest has indicated its preference to remain an independent company. The FT reported that Microsoft’s acquisition strategy targets active online communities that it can link to its cloud platform.
Pinterest PINS,
has a current market valuation of around $ 50 billion, bolstered by a 36% rise in its shares in the past three months. The online bulletin board platform has exploded during the pandemic as users have had more free time. Over the past 12 months, Pinterest shares have grown 239%.
Last week, Pinterest reported that it added 100 million new users in 2020 and posted 76% quarterly revenue growth year over year.
A deal would likely have been the largest acquisition Microsoft has ever made, roughly twice as large as its $ 26 billion purchase of LinkedIn in 2016, but would also likely have caught the attention of antitrust regulators.
Microsoft shares MSFT,
are up 9% year-to-date, and 31% year-on-year, compared to a 6% annual gain in the Dow Jones Industrial Average DJIA,
of which it is a component.
[ad_2]
Source link