PayPal Is Said to Weigh $45 Billion Purchase of Pinterest (3)

PayPal Holdings Inc. is exploring a $45 billion acquisition of social media company Pinterest Inc., in what could be the biggest technology deal of the year and move the payments company closer to its ambitions of becoming a “super app.”

San Jose, California-based PayPal recently approached Pinterest about a potential deal, said people with knowledge of the matter, who asked not to be identified because the details are private. The companies have discussed a price of around $70 a share, the people said.

That would value Pinterest at about $45 billion for the entire company, including its Class B ...