📰Biz News Billion dollar bid for PayPal

[Dopious]

Two companies, Stripes and Advent, have bid over $53 billion, for the payment service company PayPal, reports the Financial Times.

The offer, which is 28 percent above the company's closing share price on Tuesday, is a discount compared to PayPal's valuation a year ago. There are no signs that the payment services company intends to accept the offer.

So far, PayPal has been reluctant to do business with these two players, according to the Financial Times, which cites sources with insight.

For Stripe, however, the deal would imbue its own brand with a customer-oriented profile and access to over 400 million users.

Advent, in turn, has a long history of acquiring payment service companies and has recently become a partner in Worldpay.

According to sources with insight, Stripe and Advent intend to become partners in PayPal.

PayPal has declined to comment on the bid.

Source: https://www.ft.com/content/3738e814-9470-4d7d-94a6-ac5e001a968e?syn-25a6b1a6=1

 

[TheVigilante]

I have heard stories of Paypal stealing money from marketers leaving them with no chance to recover

 

[Dopious]

I have heard stories of Paypal stealing money from marketers leaving them with no chance to recover

Yeah, there is a lot weird stories out there about banned accounts where they keep the money and not even pay them back to buyers.

 

[SirTop]

I have heard stories of Paypal stealing money from marketers leaving them with no chance to recover

So so many... I still remember a founder who shared a story about how PayPal held their money and it disrupted their annual company party or something like that. Maybe it was around Christmas time. I honestly can't remember, but cases like that are very common

But would changing hands really change much, since it would still mostly be the same team with most of the same policies still in place?

 

[chaktty]

They withheld my $200 till today.

I hope it's bought, and a new company improve on it.

 

[Zwielicht]

Yeah, there is a lot weird stories out there about banned accounts where they keep the money and not even pay them back to buyers.

I spoke to others who offered digital goods and services over the years who had this happen to them. It’s why I never kept any funds in my PayPal account and transferred it immediately.

 

[Dopious]

I spoke to others who offered digital goods and services over the years who had this happen to them. It’s why I never kept any funds in my PayPal account and transferred it immediately.

Yeah, I have a business account as well, but I only use it for payments. My personal account got banned in the early days of PayPal due to some questionable activity from when I was young and dumb.