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PayPal Winds Down Venture Arm Amid Sweeping Restructure
Summary by PaymentExpert.com
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PayPal winds down venture arm amid sweeping restructure
Headcount at PayPal’s decade-old investment unit has collapsed to two, with bank Jefferies drafted in to explore selling off its portfolio positions Enrique Lores, PayPal. Image credit: LinkedIn PayPal is winding down PayPal Ventures, the corporate investment arm it launched a decade ago, as new CEO Enrique Lores presses ahead with a broad overhaul of the payments firm, Fortune has reported. The unit’s headcount has fallen from more than 10 in …
Driven by fierce competition, the online payment pioneer is sacrificing his investments in technology. The goal is to stop sparring to save his core business.
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