PayPal's potential sale: multiple buyers interested as stock plummets
PayPal's stock has taken a huge hit—down nearly 50% over the past year—which has suddenly made the company a hot target for takeover interest.
Multiple buyers are interested, and PayPal's been chatting with banks about what comes next.
The news even gave their shares a quick 9% boost.
Roster of interested parties
Some rivals want all of PayPal, while others just want pieces of it.
With its value now at $38 billion (way down from its peak), everyone's watching to see if a deal actually happens or not.
New CEO Enrique Lores steps in
Enrique Lores steps in as CEO on March 1, hoping to turn things around after Alex Chriss was let go following disappointing results.
The company's been losing ground to newer options like Apple Pay and Google Pay—mostly because its tech feels outdated.
Digital payments landscape shifts quickly
All this takeover talk highlights how fast the digital payments world is changing—and how even big names like PayPal can get left behind if they don't keep up.