Source: CNBC
Summary
PayPal is restructuring to spin off Venmo as a standalone business unit. This move is seen as a step towards a potential sale. Stripe has reportedly shown interest in acquiring PayPal.
Our Reading
The announcement sounds ambitious.
PayPal is spinning off Venmo, a move that could lead to a sale. Stripe might be interested in buying PayPal. Because what the world really needs is another giant payment processor. It’s not like we’ve seen this movie before, where a big company buys a smaller one and promises to “unlock its full potential”.
Author: Evan Null
