Microsoft approaches Pinterest regarding a potential deal: Report

Mircrosoft-Corp. approached Pinterest-Inc. in recent months about a potential deal to acquire the $51 billion social media company. This was reported by Financial Times on Wednesday, citing people briefed on the matter.

Due to lockdown, a general shift to virtual interactions led to increase in social media interactions that benefitted Pinterest too. Its monthly active users jumped 37-percent to 459 million in the fourth-quarter. The company said it added a record 100 million monthly active users in 2020.

Pinterest’s shares have risen over seven times since March. Pinterest had previously signaled it wants to remain an independent company.

The social media company generates revenue by placing advertisements next to the Pins, or posts, uploaded on the site by users.

A deal between two companies would also test the Biden-administration’s appetite for allowing powerful technology companies to strike deals. However both companies didn’t respond to Reuters when asked about this deal.

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