Pinterest is in negotiations with the company to buy VSCO, according to statements made by two people with knowledge on the matter to NYT.
Wanting to offer users better experiences and add new features to the platform, Pinterest is reportedly in talks to purchase VSCO, a photo video editing app.
Pinterest is experiencing rapid growth with the pandemic
Neither Pinterest nor VSCO wanted to make any statements about the talks that came to the fore with the statements of the two people who were knowledgeable on the subject to the New York Times. Speaking to the NYT, the people said that the negotiations are continuing.
VSCO spokesperson Julie Inouye said nothing about Pinterest and stated that the company is focusing on expanding its business: “In the creative field, we always meet with different companies at any given time and do not discuss rumors or speculation.” said.
Pinterest has grown rapidly thanks to the pandemic. The company stated that, with 100 million new users added to the platform in 2020, they reached approximately 460 million monthly active users worldwide. According to the Times, Pinterest has a market value of about $ 49 billion, and experts estimate the company’s total revenues.
While Pinterest, which experts predict will grow by more than 48% in 2021, has a market value of about $ 49 billion, VSCO has finally reached a value of $ 550 million thanks to the $ 90 million fund it has recently provided.