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PayPal's new CEO makes Venmo a standalone business unit as potential buyers circle
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PayPal's new CEO makes Venmo a standalone business unit as potential buyers circle

CNBC·Hugh Son·about 1 month ago
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Enrique Lores, then-CEO of Hewlett-Packard speaks on CNBC outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025. Gerry Miller | CNBC PayPal CEO Enrique Lores has this week told managers that he is reorganizing the firm's reporting lines to separate Venmo, the popular mobile payments app, from the company's other operations, CNBC has learned exclusively. Venmo will soon be its own standalone segment within PayPal, making it easier to track its progress or potentially sell the business to another company, said people with knowledge of the changes. PayPal is looking to recruit a digital banking executive to run the new Venmo segment, said the people, who weren't authorized to speak publicly. The other two segments will be a PayPal-branded business for merchants and consumers and a payment services unit that includes its Braintree unit and crypto operations, the people said.…

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