Microsoft approached social media platform Pinterest for a possible acquisition deal in recent few months.
The Seattle-based tech giant’s interest in acquiring the platform was well-timed as Pinterest has been enjoying rapid growth in its user base since the onset of the pandemic. In just Q4 2020, Pinterest saw its monthly active users increase by 37 percent, reaching 459 million. Overall, the $51 billion company saw its user base increase by 100 million in 2020.
According to the Financial Times, the acquisition talks are no longer active. Pinterest, in the past, has signaled its interest in remaining an independent company.
Microsoft’s interest in acquiring TikTok comes less than six months after its failed bid to acquire TikTok. The deal would have tested the Biden administration’s willingness to let big tech companies consolidate competition in the social commerce space.
Pinterest’s share value has increased by seven-fold since it hit a low in March of last year.