Advent, Stripe abandon US$50 billion pursuit of PayPal

Published Aug 28, 03:15 AM UTC

According to a Bloomberg report, private equity firm Advent International and payments company Stripe have abandoned their pursuit of PayPal in a deal that could have been valued at US$50 billion. The acquisition talks collapsed as PayPal has struggled to modernize its payment technologies while competitors have gained market share. The Wall Street Journal had previously reported that PayPal found the initial bid insufficient and that the two sides were negotiating a potential higher price. The abandonment of the deal highlights ongoing challenges for PayPal in the competitive digital payments landscape.