Back in October 2021, (NASDAQ: PYPL) reportedly considered buying Pinterest (NYSE: PINS) for as much as $45 billion. That rumor initially surprised many investors, because the two companies seemed completely different: PayPal was one of the world's largest digital payment companies, while Pinterest was a niche social media platform that let its users share their interests, hobbies, and ideas through virtual pinboards.

Yet the potential synergies between PayPal and Pinterest were also easy to spot. Pinterest had already been expanding into the "social commerce" market with its shoppable pins, so PayPal could tether those merchants to its digital payments services. Gaining hundreds of millions of active users from Pinterest could also solve PayPal's problem of slowing user growth.

Image source: PayPal.

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Source Fool.com