economy
April 29, 2026
PayPal's new CEO makes Venmo a standalone business unit as potential buyers circle
PayPal is betting that a new corporate structure can reignite growth at a company that has lost ground to Apple, Google and Stripe in the e-commerce battle.
TL;DR
- PayPal is creating three distinct business segments, separating Venmo into its own standalone unit.
- This reorganization happens amidst takeover interest from potential buyers like Stripe.
- The other two segments will be a PayPal-branded business and a payment services unit including Braintree and crypto.
- Two senior executives, Diego Scotti and Michelle Gill, are departing as part of the changes.
- A new artificial intelligence transformation group and a financial services unit are also being established.
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