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PayPal to Spin Off Venmo as Standalone Segment, Hires Digital Banking Lead
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Business·29.04.2026Resumen IA

PayPal to Spin Off Venmo as Standalone Segment, Hires Digital Banking Lead

PayPal CEO Enrique Lores is reorganizing the company into three segments, making Venmo a standalone unit to track performance or potentially sell the business. The company is recruiting a digital banking executive to lead Venmo, which has nearly 100 million users and is viewed as PayPal's most valuable asset. Two key executives are departing as the company faces pressure from competitors Apple, Google and Stripe and potential layoffs.

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CNBC