PayPal in talks with Stripe and private equity firm over potential sale
Stripe and Advent International previously made a joint offer to buy the firm for US$60.50 a share, valuing PayPal at around US$53 billion.
PayPal is exploring a potential sale to a group of investors, including private financial company Stripe and private equity firm Advent International, according to a Wall Street Journal report. This comes after the company rejected a previous offer in July, which would have valued PayPal at around US$53 billion, an 85% decrease from its peak market value of near US$360 billion in 2021.
Despite struggling to compete with other payment providers, PayPal's shares rose after the news, closing up nearly 1.8%. The company, co-founded by Peter Thiel, has faced challenges keeping up with competitors like Apple Pay and Google Pay.
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- PayPal in talks with Stripe and private equity firm over potential sale freemalaysiatoday.com
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