Pinterest has seen a 1.5 percent fall after its release saying it would release its third-quarter financial results on Nov. 4, after the close of the market.
This could have a negative effect on the possibility that PayPal would be buying Pinterest, following a report last year that the payments giant was considering buying the social media company.
Read more: PayPal Said to Be Negotiating Pinterest Buy
This has put a damper on PayPal stock, too, which dropped 4.9 on Wednesday, then 5.9 on Thursday and 1.2 percent more on Friday, Oct. 22.
Reports recently said that PayPal could be buying Pinterest in a deal mostly made of stock. PayPal had been reportedly planning to get the deal done before its own quarterly earnings on Nov. 8.
PYMNTS has previously reported on the purported PayPal and Pinterest deal.
The report says the talk was previously at an “early stage” and that it may not have led to a full deal.
However, Pinterest’s $40 billion market value had PayPal reportedly looking at adding the company to its increasing portfolio.
The PYMNTS report quotes PayPal president and CEO Dan Schulman, who said there would be a necessity for the merging of apps.
He said “no consumer is going to have 40 or 50 apps on their phone,” adding that “there must be super apps that come together to consolidate all of your financial instruments. And by the way, those financial instruments include rewards points, and the ability to choose buy now, pay later, or even to use QR codes.”
The PayPal “super app” reportedly offers a “simplified, secure and personalized experience” which would help cut down on the complexity of managing with multiple financial or shopping apps, remembering various passwords and working with loyalty rewards from multiple accounts.
In other news, Pinterest has also recently put out new TikTok-esque features as a part of its Creator Festival, which include separating the app into Browse with the usual Pin grid and Watch for full-screen videos – which the report says are TikTok’s bread and butter.
See also: Pinterest Remodels Home Feed With TikTok Inspiration
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