Microsoft approached Pinterest in recent months about potential deal: Report

Microsoft Corp approached Pinterest Inc in recent months about a potential deal to acquire the $51 billion social media company, the Financial Times reported on Wednesday, citing people briefed on the matter.

The negotiations were currently not active, according to the report.

A general shift to virtual interactions leading to increased engagement on social media platforms benefited Pinterest as well, with its monthly active users jumping 37% to 459 million in the fourth quarter.