PayPal issued a statement saying it “is not pursuing an acquisition of Pinterest at this time,” apparently ending its consideration of the acquisition. Last week several media outlets had reported that PayPal was exploring a deal that would have cost somewhere north of $40 billion. Pinterest stock immediately jumped 13% but PayPal stock slid 11% over several days, a sign that investors did not...
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Sequoia Capital China Buys Discounted Stake in Prominent E-Commerce App
Sequoia Capital China recently acquired a stake in Chinese social e-commerce app Xiaohongshu from existing investors at a discount to the company’s most recent equity financing valuation, according to three people with knowledge of the matter. Sequoia China, which is preparing to separate from Silicon Valley’s Sequoia Capital next year, bought the Xiaohongshu shares earlier this...
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