Key Points
- 1. PayPal Holdings Inc. is divesting and prioritizing profitable growth, moving away from non-profitable ventures.
- 2. The company is reassessing its Venmo business as part of its shift in strategy towards sustainable growth.
- 3. CEO Alex Chriss teased upcoming innovations in a LinkedIn post, scheduled for market release in 2024.
- 4. This move reflects PayPal's commitment to shaping the future of commerce in the rapidly changing digital landscape.
- 5. The "First Look" event on January 25th will unveil groundbreaking initiatives that could redefine digital commerce.
In a strategic move, PayPal Holdings Inc. is set to divest and prioritize profitable growth, as announced by CEO Alex Chriss. Despite benefiting from consumer spending resilience, the company aims to step away from non-profitable ventures.
Over the past years, PayPal made numerous acquisitions, prompting a shift in strategy towards prioritizing sustainable growth. This includes a reassessment of its Venmo business.
CEO Alex Chriss hinted at upcoming news, scheduled for January 25th. In a LinkedIn post with the hashtag #PayPalFirstLook, Chriss teased a "first look" at the innovations slated for market release in 2024.
"Please join me for an exclusive preview of the first innovations PayPal and Venmo are piloting and bringing to market this year – innovations that we believe will change commerce as we know it," Chriss mentioned.
The move comes as part of PayPal's ongoing evolution in the rapidly changing digital commerce landscape. The company, a pioneer in online payments, has undergone transformative phases, and this announcement indicates a strategic focus on shaping the future of commerce.
Chriss, who assumed the role of CEO last year, succeeded Dan Schulman. Schulman played a crucial role in guiding PayPal through its separation from eBay in 2015. The upcoming "First Look" event signifies PayPal's commitment to continuous innovation and adaptation in the dynamic e-commerce ecosystem.
Stay tuned for the PayPal First Look on their YouTube channel on January 25 at 9:30 am PT. The announcement is expected to unveil groundbreaking initiatives that could redefine the landscape of digital commerce.
Institutions Holding PYPL
- # of Institutions 2,014
- Shares Held 688M
- Call Options Held 44.2M
- Put Options Held 40.1M
About PayPal Holdings, Inc.
- Ticker PYPL
- Exchange NASDAQ
- Sector Financial Services
- Industry Credit Services
- Shares Outstandng 1,156,480,000
- Market Cap $67.4B
- Description
- PayPal Holdings, Inc. operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in app...