The payments company reportedly "recently approached" Pinterest about a potential deal. The two companies have talked about a potential price of $70 per share, according to Reuters, citing a person directly familiar with the matter. That could put Pinterest's valuation around the $39 billion mark, according to Bloomberg.
Pinterest and PayPal didn't immediately respond to requests for comment.
PayPal, which has been around for more than two decades, owns several other companies, including mobile payments app Venmo and online coupon code tool Honey. The company also last month agreed to acquire Paidy, a Japanese company that offers buy now, pay later services.
Pinterest has been making its own e-commerce push, launching shoppable Idea pins in July and other shopping features this month, including a verified merchant program. As of July, Pinterest said it had .