Just look at the chart below from Shareaholic.Īfter a huge surge in early 2011, Pinterest continues to attract interest and drive traffic and sales.Īccording to Mashable, the number of total unique visitors since May 2011 has increased by 2702%. When it comes to referral traffic from social networks, there’s Facebook and Pinterest - and then there’s everyone else. If you think Pinterest is a fluffy, confusing or unnecessary social media network for authors, think again.Īccording to Shareaholic, Facebook and Pinterest are the top social media networks for driving traffic to websites.Īnd Pinterest drives more traffic than Twitter. So rather than going against Amazon, PayPal is making a bet on a different kind of shopping model,” said Marketplace Pulse e-commerce analyst Joe Kaziukėnas.Are you using Pinterest? If not, you’ll want to check out this post on Pinterest tips for authors and my 57 suggestions for author pinboards. “Social/interactive commerce is growing in the United States and no one has won it yet. It has partnered with e-commerce giant Shopify and in August began allowing retail brands to link their product catalogues to the app.Īnalysts said the PayPal-Pinterest deal talks highlight the potential for other social media and fintech companies to join forces to capture swaths of the e-commerce market. TikTok, for example, is testing a way for users to buy products directly on its short video app. Social media platforms that have not pursued mergers with fintech firms have been working on ways to allow consumers to buy directly from their platforms. It acquired return-service provider Happy Returns in May. It bought online coupon finder Honey Science in 2019 for $4bn and Japanese buy-now-pay-later (BNPL) firm Paidy for $2.7bn earlier this year. PayPal had been looking to boost its e-commerce offerings in recent years through acquisitions. Sharp founded the online scrapbook and photo-sharing platform with Ben Silbermann, who is the San Francisco, California-based company’s chief executive officer, and Paul Sciarra, who left in 2012. The company is at a crossroads after co-founder Evan Sharp announced last week he would step down as chief creative officer to join LoveFrom, a firm led by Jony Ive, the designer of many Apple Inc products. Pinterest was valued at about $13bn when it went public in 2019. Pinterest also saw a huge spike in users looking for crafts and DIY project ideas, as lockdown curbs kept people at home.Īs lockdowns eased, Pinterest has warned about slowing user growth, especially in the United States, its largest market. Its shares have risen about 36 percent in the last 12 months, giving it a market capitalisation of nearly $320bn. The payments behemoth was among the big winners of the COVID-19 pandemic, as more people used its services to shop online and pay bills to avoid stepping out. “ combination would be a significant positive for PayPal’s ongoing monetization initiatives on both sides of its merchant and consumer platforms, especially if Pinterest’s social commerce platform gets integrated with Honey’s AI into PayPal’s destination app,” Wedbush analysts wrote in a note. PayPal’s shares fell more than 4 percent on the news, while Pinterest rose more than 14 percent to $63.51. PayPal’s offer represents a 26 percent premium to Pinterest’s closing price of $55.58 on Tuesday. Bloomberg News first reported on the PayPal-Pinterest talks on Wednesday. PayPal and Pinterest did not respond to requests for comment. They asked not to be identified because the matter is confidential. The sources cautioned that no deal was certain and terms could change. The online payments provider hopes to successfully negotiate and announce a deal by the time it reports quarterly earnings on November 8, the source added. PayPal has offered $70 per share, mostly in stock, for Pinterest, one of the sources said. Buying Pinterest would allow PayPal to capture more of that e-commerce growth and diversify its income through advertising revenue. The deal talks revealed on Wednesday come as internet shoppers increasingly buy items they see on social media, often following “influencers” on platforms such as Instagram and TikTok. PayPal Holdings Inc has offered to buy digital pinboard site Pinterest Inc for $45bn, people familiar with the matter said, a combination that could herald more tie-ups between financial technology and social media companies in e-commerce.
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