PayPal might not be looking to sell itself, report

Source: TechCrunch

Report Summary

PayPal may not be pursuing an acquisition, Semafor reported, citing people familiar with the matter.

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

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, according to the outlet. The company’s new CEO is set to start next week, as PayPal has announced.

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