The timing is notable. PayPal, which owns Venmo, is restructuring to spin Venmo off as a standalone business unit — a move widely seen as laying the groundwork for a potential sale. Stripe has reportedly expressed interest in buying PayPal outright.
PayPal is pitching an AI-led turnaround, tying automation and restructuring to $1.5B in savings as it cuts jobs and works to modernize its tech stack.