Microsoft Corp. made openings to buy Pinterest Inc. in recent months, the Financial Times reported Wednesday night.
Acquisition talks are currently not active, FT reported, adding that in the past Pinterest indicated its preference to remain an independent company. The FT reported that Microsoft’s acquisition strategy is targeted at active online communities that can pair with its cloud platform.
Pinterest PINS,
has a current market valuation of about $ 50 billion, bolstered by a 36% increase in its shares in the last three months. The online pinboard platform has grown during the pandemic as users have had more time on their hands. Over the past twelve months, Pinterest shares have risen 239%.
Last week, Pinterest reported that it added 100 million new users by 2020 and recorded 76% growth in quarterly year-on-year revenue.
A deal would have probably been Microsoft’s largest acquisition ever, roughly double LinkedIn’s $ 26 billion purchase in 2016, but it would probably also have been controlled by antitrust regulators.
Microsoft shares MSFT,
have increased 9% to date and 31% over the past year, compared to an annual gain of 6% on the Dow Jones Industrial Average DJIA,
of which it is a component.