WHAT HAPPENED
Jhvephoto/Getty ImagesStripe and private equity investor Advent International are in talks to purchase PayPal, according to theWall Street Journal. 50 a share for the online payment system in July, which put its value at $53 billion, but it wasn’t enough to get PayPal to sell. TheJournalsays the payment system was trading at historic lows before the proposal and was worth around $40 billion at the time, down around $320 billion from its highest market value back during the height of the COVID pandemic. While the talks could still collapse, the companies are now discussing a potentially higher price per share and could announce a deal in the coming weeks if everything goes well. In an earlier report about the offer the buyers made,Reuterssaid Stripe and Advent would each hold an equal stake and would become PayPal’s joint owners.
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