Payments behemoth PayPal Holdings is in talks to buy digital pinboard site Pinterest.

The companies have discussed a potential price of $70 per share, according to Bloomberg News.

This would value Pinterest at around $39bn.

The price would represent a 26 per cent premium to Pinterest’s closing price of $55.58 on Tuesday.

PayPal’s shares were down about 3.5 per cent, while Pinterest’s shares were up over 10 per cent at $61.55.

News of the potential deal comes months after Microsoft’s attempts to acquire Pinterest earlier this year.

It also follows Pinterest’s co-founder Evan Sharp’s plans to leave the company to join LoveFrom, a firm led by Jony Ive, the designer of many iconic Apple products.