Microsoft Reportedly tried to buy Pinterest for $51 billion
- 11 February 2021
Microsoft recently approached Pinterest about a potential deal to acquire the American image-sharing and social media service for $51 billion, APA reports citing Financial Times.
The deal, which would have been Microsoft’s largest acquisition to date, confirms that the tech giant is continuing to pursue an acquisition strategy aimed at amassing a portfolio of active online communities that could run on top of its Azure cloud computing platform. Pinterest - which boasts more than 320 million active users - currently relies on Amazon Web Services (AWS) as its infrastructure provider.
However, the FT reports that talks between the two companies are not currently active, adding that Pinterest has signaled its preference to remain an independent company.
Pinterest’s market value has increased by more than 600% during the Covid-19 pandemic, and the company revealed last week that Last week, it added 100 million new users in 2020 and saw 76% growth in year-over-year quarterly revenue.