GoKawiilListen to this post
Stripe wants to buy its biggest rival, PayPal, and the deal could reshape how the world pays online. Stripe and private equity firm Advent International jointly offered more than $53 billion for PayPal, a bid that would give Stripe direct access to hundreds of millions of consumers, Reuters reports.
Stripe has always focused on merchants, while PayPal brings more than 430 million consumer accounts to the table, including the Venmo network and a familiar checkout button. Those numbers would help Stripe build out its own digital wallet and stablecoin ambitions. For PayPal, the deal would come as a lifeline after a brutal few years: its market cap has fallen from a 2021 peak of $360 billion to as low as $36 billion this year.
Not everyone thinks Stripe’s $60.50-a-share offer is generous enough. “We do not think PayPal’s new CEO will likely embrace what could be viewed as a low-ball offer,” said William Blair analyst Andrew Jeffrey, predicting the price could climb as high as $70 a share.