Payments giant PayPal Effects Inc is in addresses to buy digital pinboard point Pinterest Inc, according to a person directly familiar with the matter.

The companies have bandied a implicit price of$ 70 per share, which would value Pinterest at around$ 39 billion, according to Bloomberg News. The price would represent a 26 decoration to Pinterest’s ending price of$55.58 on Tuesday.

PayPal and Pinterest didn’t incontinently respond to Reuters’ requests for comment. The source requested obscurity as the conversations are nonpublic.

PayPal’s shares were down about3.5, while Pinterest’s shares were over over 10 at$61.55.

News of the implicit deal comes lower than a week after Pinterestco-founder Evan Sharp blazoned plans to leave the company to join LoveFrom, a establishment led by Jony Ive, the developer of numerous iconic Apple products.

Sharp innovated the online notebook and print- participating platform along with Ben Silbermann, who’s the company’s principal administrative officer, and Paul Sciarra, who left in 2012.