Stripe is partnering with private equity firm Advent International to make a joint offer for PayPal at $60.50 per share, valuing the company at more than $53 billion, according to a Reuters report. This represents a 28% premium on PayPal’s stock price, with each of the companies taking an equal stake and no plans to break the company up. The offer, backed by around $50 billion in committed bank financing, was submitted earlier this month following an initial approach in April, but has not yet received a response.
PayPal has struggled of late, with its market capitalization down 40% in the past 12 months, a fraction of its $360 billion peak in 2021. Enrique Lores, the former HP chief, took over as CEO in March and streamlined the organization into three units covering checkout solutions and PayPal, consumer financial services and Venmo, and payments and crypto.
What is notable is how neatly PayPal fits into Stripe’s strategy in the coming agentic payment era, alongside the moves it’s making in the stablecoin sector.
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