PayPal’s Pinterest Interest, WeWork Makes its Market Debut & Big Tech’s Geopolitical Pull

TechCheck

CNBC

Management, Cnbc, Tech, Faang, Investing, Business, Disruptors, Technology

4.5 • 66 Ratings

🗓️ 21 October 2021

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors kick off today’s show with the details on PayPal exploring an acquisition of Pinterest. Then, CNBC’s Phil LeBeau covers Tesla’s earnings beat reported last night. Plus, we cover WeWork finally going public today two years after its failed IPO. Then, Eurasia Group President Ian Bremmer joins to discuss the power of Big Tech today. Next, Bow Capital Founder and WeWork Board Member Vivek Ranadive joins to speak about WeWork’s market debut today. And later, Greycroft Venture Partner and Former Pinterest Executive Kamran Ansari is here to talk about PayPal’s potential acquisition of Pinterest. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Julia Borsden, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern, listen in.
0:07.8	Thursday. Welcome to Tech Check. I'm John Ford with Dea Trobeauce and Julia Borson. Carl is off.
0:13.1	Today, enter Pins to Pay. The latest on PayPal's possible interest in Pinterest, and then record revenue and record profit for Tesla. Is this Elon Musk's
0:22.9	breakthrough quarter? And later, WeWork finally makes its public debut. You'll hear from
0:27.6	ousted founder Adam Newman this hour. Well, guys, let's kick off with PayPal, Pinterest and some
0:33.5	relative valuations in tech. First, I'm CNBC confirming reports that the fintech company is in late stage talks to acquire Pinterest for $70 a share,
0:42.2	valuing Pinterest in nearly $39 billion. So we wondered, how does that size stack up? We'll have a look.
0:48.2	Twitter has a market cap north of $50 billion. Snap, perhaps more surprisingly, after the incredible run it's had, worth $120 billion
0:55.6	today. So essentially, three Pinterest. Now, beyond raw market cap, how about valuation?
1:01.5	We broke this down as well. Pinterest valued at 19 times sales. That's almost twice as much as
1:07.2	Facebook, which has a price to sales ratio of nine, beating Twitter as well,
1:11.6	which is valued at about 13 times sales.
1:13.9	But the clear outlier here, Snapchat, as I said, that incredible run has brought it to 33-time sales,
1:20.2	and that reports after the bell today.
1:22.1	So we'll see if they can sustain that pace.
1:24.9	But guys, when we look at the Pinterest PayPal deal, this is really all about social
1:29.1	commerce here. And the idea that perhaps Pinterest hasn't been able to monetize those users
1:34.0	as well as they could be throughout the pandemic. And you take a look at a company like Shopify,
1:40.3	Julia, which has done a really good job in that place right at the intersection of social
1:45.1	commerce combining payments, as well as that social platform and getting merchants on them.
1:52.4	Yeah, Deirdre, I think that's absolutely right. I mean, if you look at PayPal and all the
1:57.3	acquisitions and different moves it's made, this would be such a massive acquisition
	...

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