PayPal dumps Pinterest $45 Bn acquisition plan

San Francisco-based online payment giant, PayPal Inc has reportedly denied acquisition deal of digital pinboard site Pinterest on Sunday.

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Responding to the media rumors on Pinterest’s $45 billion acquisition deal, PayPal spokesperson said, “It is not pursuing an acquisition deal of Pinterest at this time.”

Last week, Bloomberg in its report said, “PayPal had discussed the acquisition deal with Pinterest and offered $70 for each share.”