PayPal CEO Enrique Lores\u2019 turnaround plan for the fintech company could include a sale \u2014 of itself. <\/p>\n
The prospect first popped in July when Stripe and private equity giant Advent offered to buy<\/a> PayPal for $60.50 a share in a deal that would have valued it at $53 billion, the Wall Street Journal reported at the time. <\/p>\n PayPal balked. But apparently, negotiations never stopped and a deal could come together in the coming weeks, according to new reporting <\/a>by the WSJ, which cited unnamed sources. <\/p>\n PayPal declined to comment on the report. A Stripe spokesperson said the company doesn\u2019t \u201ccomment on rumors or speculation.\u201d<\/p>\n The negotiations are taking place as Lores attempts to save the company from its lagging trajectory<\/a>. <\/p>\n Lores joined PayPal in March, after spending years at HP. In April, Lores made the first moves in his turnaround plan<\/a>, including an executive shuffle and splitting the business into three operating models: checkout solutions and PayPal, consumer financial services (and Venmo), and payment services and crypto. A month later, Lores told investors<\/a> that PayPal would recommit to the fundamentals,\u201d which included \u201cbecoming a technology company again.\u201d <\/p>\n PayPal\u2019s turnaround will also include a cost-saving plans, which is expected to reduce its workforce by 20% <\/a>over the next two to three years.<\/p>\n PayPal was founded in 1998 by a number of men who went on to be Silicon Valley luminaries, including Peter Thiel, Elon Musk, Max Levchin, Luke Nosek, and others. The company has struggled<\/a> in recent years, after ballooning during the pandemic due to an e-commerce boom<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"PayPal CEO Enrique Lores\u2019 turnaround plan for the fintech company could include a sale \u2014 of itself. The…\n","protected":false},"author":3,"featured_media":1002298,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[6],"tags":[198313,64,693,18584,111210,67,132,68],"class_list":["post-1002297","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-advent","tag-business","tag-fintech","tag-paypal","tag-stripe","tag-united-states","tag-unitedstates","tag-us"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117099395011117545","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1002297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=1002297"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1002297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/1002298"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=1002297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=1002297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=1002297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}