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Stripe said to abandon $50B pursuit of PayPal

Stripe said to abandon $50B pursuit of PayPal

1986

Comments (219)

  • c16
    I like to think Stripe put $50B in a paypal account, and they got locked out with no way to get it back.
  • analog31
    Who uses PayPal any more? I do.I have a side business that makes a gadget, akin to a guitar pedal. It has worked flawlessly for me, for well over a decade. Occasionally I casually search for an alternative (to have a backup) but have never found one.PP lets me accept payments from a completely passive website. No code! While I love coding, maintaining an active web page is a cost. My IT costs are zero.I think PP's buyer protections help my business too, by letting people feel confident that they can cancel a deal, and that I don't get any of their personal information except their shipping address. I don't want that information, and I don't want to be responsible for keeping it secure.
  • wkoszek
    PayPal might still be the sweetheart, but there's no innovation I feel. With eBay having CC support and being able to charge and return a charge back to the card, PayPal now is in a niche. I'm helping a founder recruit. To handle the load of candidates, we give folks applying some $ for doing a small 1hr project, and Claude told me that PayPal may still be universal way of sending a "gift amounts". I often wonder how much work would it be to bring IBAN accounts to the US. The need for Zelle baffles me, and the fact that person A can't send $ to person B via normal bank infrastructure is interesting.
  • rekttrader
    Diligence told them they’re buying a almost dead payment processor with ancient tech. Customer lists are worth something but not that much.
  • tyre
    Makes sense:> The takeover interest has helped it recover, with PayPal shares jumping more than 40% this quarter to give the company a market value of about $52.6 billion.Seems like they tried to buy a struggling company and leaks of the talks made it too expensive.
  • reenorap
    If this is true, the CEO needs to be fired immediately by the Board and negotiations need to be resumed. Paypal has no future, getting 60B would have been a gift to them.
  • ocd
    I've been wondering about this since it came up in my newsreader that they wanted to acquire PayPal. Seemed like odd timing to me given PayPal has been questionable but necessary in a lot of cases for online businesses in international payments.In Canada, we use Interac for more ordinary payments between ourselves, and the usual credit cards through card processors like Moneris or bank provided services in physical stores. I can imagine fewer uses for PayPal as time goes on, especially with the accelerated change driven by geopolitics. Visa and Mastercard may be at risk internationally for other countries seeking to keep payment processing entirely in their own yard.This matter in particular made me wonder how things will go for Stripe going forward with these policy changes that may impact credit cards.I'd love to delete my PayPal account and never log in again, but the use case for me right now is mostly that companies (outside Canada, and outside NA in most cases) usually only accept payment with PayPal.
  • acd
    There is us fair competition law Sherman anti trust act laws. "is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce and consequently prohibits unfair monopolies"https://en.wikipedia.org/wiki/Sherman_Antitrust_Act
  • stefandesu
    I've deleted my PayPal account last year and haven't regretted it. Admittedly it helped a lot that I live in Norway now where everyone uses Vipps (which is so much better), and PayPal is not a thing at all.
  • anon
    undefined
  • iSloth
    Such a shame they didn't do anything with Braintree years ago and just let it rot
  • aghuang
    Thought this would happen and would work out. Must have been a disagreement on more than just the price.Only Stripe knows.
  • ChrisArchitect
    6 months ago: Stripe reportedly makes offer to acquire PayPal https://news.ycombinator.com/item?id=471440641 month ago: Stripe and Advent have made a joint offer to acquire PayPal – sources https://news.ycombinator.com/item?id=48915953
  • diogenescynic
    PayPal is dying and not that slowly. It's being replaced by Stripe, Adyen, Checkout.com, Apple Pay, Google Pay... etc. margins continue to decrease with no real moat to rising competition. Eventually it will just be Venmo and Braintree left and PayPal will be a company like Western Union that people used to need, but now is mostly used by scammers... They completely squandered their spin off from eBay and acquired terrible companies along the way that didn't pan out really even one time. I wouldn't pay $25B for them. You're buying a depreciating asset.
  • LightBug1
    How on earth is a dogshit company like Paypal worth $50bn?Particularly to such a vastly more sophisticated company like Stripe?
  • Computer0
    We need to figure out how to make using stablecoins viable. Crypto still sucks to use for online purchases.
  • exe34
    "pursuit" reminds me of mortal engines. But then I think the book was a comment on capitalism strip mining the earth anyway.
  • shevy-java
    I wonder if this year we see more acquisitions, by volume in money, than in prior years.I never got into PayPal and these days I shy away from any Trump-tainted US companies - which basically means I don't want my money to go into US companies. Canada showed the way here.
  • funlang
    [flagged]
  • andrewmcwatters
    [dead]
  • sathana
    [flagged]
  • sathana
    [flagged]
  • allears
    Stripe is tiny compared to Paypal, and the dodgy Stripe CEO was trying to do some wildly creative financing and work the social media memes in an effort to pull this transaction off. Wall St. basically thought it was stupid and wouldn't support it. Glad he finally gave up -- he certainly got his money's worth of free publicity out of it.