Microsoft Corp approached Pinterest Inc in current months a couple of potential deal to amass the $51 billion social media firm, the Monetary Occasions reported on Wednesday, citing folks briefed on the matter.
The negotiations had been presently not energetic, in line with the report.
A common shift to digital interactions resulting in elevated engagement on social media platforms benefited Pinterest as effectively, with its month-to-month energetic customers leaping 37% to 459 million within the fourth quarter.
The corporate mentioned it added a document 100 million month-to-month energetic customers in 2020.
Pinterest’s shares have risen over seven occasions from its pandemic-low in March final yr. Pinterest had beforehand signaled it needs to stay an impartial firm, the FT mentioned.
The social media firm generates income by putting ads subsequent to the Pins, or posts, uploaded on the location by customers.
A deal between the 2 corporations would even have examined the Biden administration’s urge for food for permitting highly effective expertise corporations to strike offers, in line with the FT.
Each corporations didn’t reply to Reuters’ requests for remark.