PayPal Eyes Potential Sale Amid Leadership Shake-Up

PayPal is reportedly considering a sale as part of CEO Enrique Lores' strategy to rejuvenate the company. In July, Stripe and private equity firm Advent proposed a $60.50 per share offer, valuing PayPal at $53 billion, but the company initially declined.

Despite this, ongoing negotiations could lead to a deal soon. Lores, who joined in March, has already initiated changes, restructuring the company into three divisions and aiming to cut costs by 20% over the next few years.

PayPal, founded in 1998 by notable figures like Elon Musk, has faced challenges following a pandemic-driven surge in e-commerce.

Source: techcrunch.com