PayPal's been on a bit of an acquisition spree, with plans to reach 750 million users by the end of 2025.
Background: PayPal is the payments platform that is used by both consumers and businesses. It has over 400 million active users worldwide. On the other hand, Pinterest is the social media platform for visual design (aka #inspo).
What happened: PayPal's been on a bit of an acquisition spree, with plans to reach 750 million users by the end of 2025. And now it's being reported that they're exploring the acquisition of Pinterest. Ain't it cute?
What else: Recently, PayPal has acquired a comparison app called Honey Science. They also acquired Japanese buy now, pay later company Plaidy. So...PayPal basically wants to become one, big super-app.
💡Super apps are smartphone apps that become a one-stop shop for many, many things. Rather than being an app that focuses on one specific service, it focuses on all things shopping, finance and social.
💡The closest thing to a super app in the Western world is Facebook.. But there are many of these in others countries.
💡Adding Pinterest to the PayPal app would be the first major entry into the shopping space.
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