PayPal Spins Off Venmo, Eyes Growth & Deal

PayPal restructures, spinning off Venmo as a standalone business unit, aiming to boost performance and potentially set the stage for a sale. The companys CEO, Alex Lores, is seeking a digital banking expert to lead Venmo, while appointing Anshu Bhardwaj and Scott Young to key roles. With nearly 100 million users, Venmo is PayPals star asset, and analysts speculate it could fetch a high price. Lores hopes this restructuring will revitalize PayPals competitive edge, as rivals like Apple, Google, and Stripe have gained ground. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/0c13762bfe52214d

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