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Microsoft expressed interest in acquiring social photo hosting site Pinterest
Microsoft wanted to acquire Pinterest. Writes about this Financial Times, citing knowledgeable sources. According to the publication, the purchase of the social network fit into the corporation’s strategy to create online communities that can run on the Azure cloud platform. How the negotiations ended is not specified. Microsoft and Pinterest declined to comment.
Pinterest is a photo hosting service where users can share photos with each other, combining them into thematic collections. The service is especially popular for posting pictures of interiors, food and wedding collages. Since the beginning of 2021, its value has grown by almost 350%. The current capitalization of the service is $ 51 billion. If purchased, the deal could be the largest acquisition in Microsoft history.
Microsoft expressed interest in buying social media back in 2021. Then the corporation sought to acquire TikTok’s business in the USA, Canada, Australia and New Zealand, but ByteDance refused to sell its overseas divisions to them.
Microsoft has made a number of high-value acquisitions over the past few years, including LinkedIn for $ 26 billion and GitHub for $ 7.5 billion. In addition, in 2021, the corporation acquired a large gaming publisher ZeniMax for $ 7.5 billion. As the FT notes, the purchase of Pinterest would be a test of the administration of John Biden (Joe Biden) for the control of the IT giants.
Previously, Pinterest published a report for the fourth quarter of 2021. According to the data, the company’s quarterly revenue grew by 76% to $ 706 million, and the annual figure increased by 48% to over $ 1.6 billion. In addition, the number of monthly users grew by 37%, reaching 459 million.