PayPal Shutters Venture Arm, Explores Portfolio Sales Amid Corporate Overhaul

PayPal Holdings is closing its decade-old venture capital arm, PayPal Ventures, with staffing reduced to just two people from over 10. The company has engaged Jefferies to explore secondary-market sales of venture stakes. This move follows leadership changes, including new CEO Enrique Lores, and is part of broader cost-reduction efforts targeting $1.5 billion in savings and 20% staff cuts over two to three years.