Microsoft Looked To Acquire Pinterest: FT

Microsoft Corporation (NASDAQ: MSFT) held talks with Pinterest Inc (NYSE: PINS) related to a possible acquisition, the Financial Times reported Wednesday.

What Happened: There are currently no active negotiations between the companies, people familiar with the matter told FT.

The stock of the $51 billion visual discovery engine has risen 600% during the coronavirus pandemic. Pinterest has indicated it wants to remain an independent company, as per FT.

Why It Matters: Pinterest’s purchase would have been the largest deal for the Redmond, Washington-based tech giant.

Both Pinterest and Snap Inc (NYSE: SNAP) have recorded a successful year, with the former reaching $706 million in revenue and an increase in monthly active users to 459 million as of the fourth quarter.

Pinterest Q4 EPS jumped to 43 cents, beating a 32 cents estimate, a 34% upside.

Meanwhile, social media giant Facebook Inc (NASDAQ: FB) is facing pushback from Apple Inc (NASDAQ: AAPL) over privacy labels.

See also: How To Buy Microsoft Stock

Last year, Microsoft was reported to have been interested in the purchase of the entire global business of TikTok, a popular Chinese short-form video app owned by ByteDance. 

Eventually, Oracle Corp (NYSE: ORCL) and Walmart Inc (NYSE: WMT) emerged as possible buyers of TikTok.

See Also: TikTok Seeks Extension Of US Deadline On Forced Sale To Oracle, Walmart

The TikTok deal has been indefinitely postponed by the administration of President Joe Biden.

Price Action: Microsoft shares closed nearly 0.4% lower at $242.82 on Wednesday and fell 0.4% in the after-hours session. On the same day, Pinterest shares closed 2.15% higher at $81.12 and fell 0.15% in the after-hours session.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.