PayPal has paused the sale of its venture capital portfolio, valued between $900 million and $1 billion, due to bids significantly lower than expected. Offers reportedly reached only 60 cents on the dollar, prompting PayPal to reconsider the timing amid depressed fintech valuations. The company had previously hired Jefferies to advise on the sale of PayPal Ventures, which includes investments in Tabby and Anchorage. Following this news, PayPal shares fell 3% on Friday.
PayPal pauses sale of venture capital portfolio arm - Axios Pro
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