Pinterest Inc forecast fourth-quarter revenue growth in the high-teens percentage range, after online retailers splurging on ads before the holiday season helped the image-sharing company beat quarterly estimates.
PayPal Inc said it is not pursuing an acquisition of Pinterest Inc at this time, after several media reported last week that it was in talks to buy the digital pinboard site for as much as $45 billion.
PayPal has offered to buy Pinterest for $45 billion, people familiar with the matter said on Wednesday, a combination that could herald more tie-ups between financial technology and social media companies in e-commerce.
Shares of Pinterest fell about 20% before the opening bell on Friday and were set to start trading at more than a three-month low after the company warned of slowing user growth in the United States, its largest market.
TikTok isn’t only a social media phenomenon, it’s also a key shopping destination with a new study showing shopping on TikTok grew 553% during the pandemic. That was almost triple the growth on Instagram and Facebook.
Luxury consumers seek out more information than ever online before making a purchase, relying especially on YouTube videos and giving particular importance to brand image, according to a study from Google and Kantar.