Benzinga | Oct 25, 2021 10:13AM EDT

PayPal Says Not Pursuing Acquisition Of Pinterest At This Time

* Payments firm PayPal Holdings Inc (NASDAQ:PYPL) is not pursuing an acquisition of visual search and scrapbooking platform Pinterest (NYSE:PINS) at this time.

* Earlier, there were market rumors that PayPal has recently discussed a possible price of around $70 a share, valuing Pinterest at $45 billion.

* The Pinterest deal would have given PayPal, which paid $4 billion last year for couponing and price-comparison app Honey Science, even more data about the products consumers are buying and the ability to advertise or offer discounts based on that data potentially, Bloomberg reports.

* Related Content: BofA On PayPal's Potential Pinterest Buyout

* Price Action: PYPL shares traded higher by 4.45% at $251.04, while PINS is down 13.4% at $50.26 in the premarket session on the last check Monday.