PayPal might not be looking to sell itself: Report

Source: TechCrunch

Overview

PayPal may not be pursuing an acquisition, according to Semafor, which cited people familiar with the matter.

Recent Reports

Earlier this week, Bloomberg reported that Stripe expressed interest in buying some or all of PayPal Holdings, which includes the flagship PayPal product and its services, as well as other companies like Venmo. Stripe declined to comment on the news.

Additional Context

Unnamed sources told Semafor that PayPal has been working with bankers in preparation for a possible activist investor campaign or a hostile takeover. The bankers were working with Alex Chriss, PayPal’s now‑ousted CEO, the outlet reported. PayPal’s new CEO is set to start next week.

PayPal did not respond to TechCrunch’s request for comment.