April 29 (Reuters) – PayPal’s new CEO is making mobile payments app Venmo a separate business as part of a broader reorganization, CNBC \u200creported on Wednesday, citing people with knowledge of the changes.<\/p>\n
Venmo will soon operate \u200cas a standalone segment within PayPal, a move that will make it easier to track its \u200bperformance or potentially sell the business, according to the report.<\/p>\n
The restructuring would come months after Bloomberg reported that payments firm Stripe was considering an acquisition of PayPal or parts of the company.<\/p>\n
Some analysts have said the sale of certain PayPal \u200cassets was more likely than \u2060an outright buyout, given the size of the business.<\/p>\n
PayPal, which is dealing with intensifying competitive pressures in its core business \u2060from large technology companies and newer fintech rivals, is looking to recruit a digital banking executive to run the new Venmo segment, the CNBC report said.<\/p>\n
PayPal earlier this \u200byear \u200bousted CEO Alex Chriss, who had been \u200bbrought in to guide the firm \u200cthrough a period of slowing growth and rising competition. It appointed Chair Enrique Lores as president and chief executive.<\/p>\n
The board had at the time said the speed of transformation and execution under Chriss had fallen short of its expectations. The firm had also issued a weak profit forecast for 2026 that fell \u200cwell short of Wall Street expectations.<\/p>\n
PayPal investors \u200bhave long been worried that aggressive moves by \u200bBig Tech players such as \u200bApple and Google into digital payments could erode the firm’s \u200cmarket share in its core business.<\/p>\n
Shares of \u200bthe company were \u200bup 2% in afternoon trading. The stock has slipped roughly 15% this year, as of the last close.<\/p>\n
The company is poised to report its \u200bfirst-quarter results next week.<\/p>\n
PayPal \u200cdid not immediately respond to a Reuters request for comment. Reuters \u200bcouldn’t immediately verify the report.<\/p>\n
(Reporting by Pritam Biswas and Arasu Kannagi \u200bBasil in Bengaluru; Editing by Tasim Zahid)<\/p>\n","protected":false},"excerpt":{"rendered":"April 29 (Reuters) – PayPal’s new CEO is making mobile payments app Venmo a separate business as part…\n","protected":false},"author":3,"featured_media":762046,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[6],"tags":[64,69015,18584,67,132,68],"class_list":["post-762045","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-mobile-payments","tag-paypal","tag-united-states","tag-unitedstates","tag-us"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116489724639803385","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/762045","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=762045"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/762045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/762046"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=762045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=762045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=762045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}