Financial tech company PayPal clarified that it is not currently pursuing a deal to acquire image-sharing social platform Pinterest, shelving reports that surfaced last week, at least for the time being. PayPal stock rose approximately 3 percent while Pinterest shares fell 12 percent on news that the digital pinboard site was not being wooed to the tune of $70 per share, largely in stock, for a deal valued at roughly $45 billion. Assuming discussions were taking place, it’s hard to know if PayPal got cold feet, caving to a mostly negative market response, or decided now may not be the time to grow. Read more

Tesla valuation shot up to $1 trillion on news that Hertz ordered 100,000 vehicles for delivery by the end of 2022. The purchase is anticipated to favorably affect Tesla consumer sales as rental drivers are able to essentially test-drive Tesla electric cars. Over the past year Tesla stock has more than doubled, and the $1 trillion valuation puts it in an elite class of companies including Apple, Microsoft, Amazon and Alphabet whose market caps exceed $1 trillion. Facebook in June crossed the $1 billion valuation mark only to fall below during September and October selloffs. Read more

Following an announcement in August that it had settled a class action lawsuit, Apple has introduced new App Store Review Guidelines. Specifically, Apple now permits its registered developers to communicate to customers how they may pay for iOS apps using payment means outside iOS and Apple’s App Store. The guidelines now explain developers may request customer information, including name and email, but must permit customers to provide that information at their discretion. The third change is how to use a new Apple feature called in-app events that Apple says is unrelated to litigation. Read more

In less than 10 years, the smartwatch has reached a tipping point, able to oversee many meaningful aspects of life. From home security to keeping tabs on your biometrics, wearability and design distinguish smartwatches from other devices — the closest approximation to cybernetics within reach of the average person with $300 to spend. Prices range from about $800 to $1,170 for Montblanc’s Summit 2+, a collaboration between Verizon, Qualcomm and the German luxury goods firm. An array of brands, including Samsung, Apple and Garmin have made it their business to redefine the smartwatch. Read more

San Francisco-based Unity Technologies, maker of the cross-platform Unity game engine has launched in beta Unity Gaming Services, a turnkey solution to make it easier to develop and maintain cross-platform multiplayer titles. New are tools for monetization, customer acquisition and player engagement. Statistics from a Unity study indicate 71 percent of multiplayer gamers do so from a mobile device, and 61 percent engage from consoles, while 40 percent say they play on both. The survey indicates 56 percent of Americans play multiplayer games, one in five having begun within the past year. Read more