PayPal closes PayPal Ventures after more than 80 investments
Business
PayPal just closed its venture capital arm, PayPal Ventures, which has made more than 80 investments (including Plaid and Anchorage Digital) since 2016.
The company says this move will help it "sharpen our focus" as it rethinks its priorities.
Enrique Lores refocuses PayPal on AI
This shake-up follows a leadership swap earlier this year: Enrique Lores stepped in as CEO after criticism of his predecessor's slow response to industry changes.
Now, PayPal is doubling down on core tech (especially AI), considering selling off some of its venture holdings, and dealing with legal issues like a $30 million Justice Department settlement and an ongoing investor lawsuit.