Talks to sell PayPal to Stripe and Advent are heating up

PayPal’s turnaround will also include a cost-saving plans, which is expected to reduce its workforce by 20% over the next two to three years.

PayPal was founded in 1998 by a number of men who went on to be Silicon Valley luminaries, including Peter Thiel, Elon Musk, Max Levchin, Luke Nosek, and others. The company has struggled in recent years, after ballooning during the pandemic due to an e-commerce boom.