Discover why PayPal is not pursuing an acquisition and how Stripe is preparing for potential financial maneuvers.
Acquisition Speculation Disputed
According to Semafor's report, based on information from unnamed sources, PayPal is not currently pursuing an acquisition, contradicting earlier reports suggesting otherwise. Earlier this week, Bloomberg had reported that Stripe expressed interest in acquiring some or all of PayPal Holdings, encompassing the flagship PayPal service and its subsidiary Venmo.
Financial Preparations for Potential Campaigns
The report further states that Stripe has been preparing for potential financial maneuvers, including an activist investor campaign or a hostile takeover. Sources informed Semafor that the company had engaged bankers to facilitate these preparations, with one of them being Alex Chriss, PayPal's recently terminated CEO.
Leadership Transition at PayPal
PayPal announced that its new chief executive will take office next week, signaling ongoing changes within the organization following Chriss' departure. The company did not respond to a request for comment from TechCrunch regarding these developments.
Stripe's Silence on Acquisition Speculation
In response to the reported interest in acquiring PayPal, Stripe declined to provide any comments or confirmations, maintaining its stance of silence on this matter.
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