PayPal may be sold to Stripe and Advent as turnaround plan unfolds
Sources say negotiations are ongoing for Stripe and private-equity firm Advent to acquire PayPal, a move tied to CEO Enrique Lores’ restructuring efforts.
According to unnamed sources, Stripe and private-equity giant Advent are again discussing a deal to buy PayPal for $60.50 a share, a price that would place the fintech at a $53 billion valuation. PayPal has not issued a statement, and a Stripe spokesperson said the company does not comment on rumors. The talks are occurring as CEO Enrique Lores pushes a turnaround plan that began with an executive reshuffle and a split of the firm into three operating units covering checkout, consumer financial services and payment/crypto services.
Lores also pledged to refocus the business on technology and announced cost-saving measures that could trim the workforce by 20% within two to three years. The company, founded in 1998 by early Silicon Valley figures, has struggled after a pandemic-driven surge faded.
Why it matters
A sale could reshape the online payments landscape and affect jobs, investors and competition.
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