Stripe's negotiations with Advent to buy PayPal are heating up, and the deal may be valued at $53 billion

According to the news, takeover negotiations between payment giant PayPal and Stripe and private equity firm Advent Global Opportunities are heating up, and the two sides may reach a deal within the next few weeks.

Earlier in July, Stripe and Advent proposed to buy PayPal for $60.50 per share, with a total valuation of about $53 billion, but PayPal did not accept the offer at the time. However, people familiar with the matter revealed that negotiations between the two sides have not been interrupted and are still progressing.

Neither PayPal nor Stripe confirmed the news. PayPal declined to comment, and Stripe said it would not respond to market rumors or speculation.

The potential sale comes at a time when PayPal is seeking to reverse growth difficulties. After taking office in March of this year, PayPal CEO Enrique Lores launched a restructuring plan to split the business into three major directions: payment and checkout and PayPal business, consumer financial services (including Venmo), payment services, and crypto business.

Lores previously said that PayPal will return to its position as a technology company and strengthen its core payment capabilities. At the same time, the company plans to improve efficiency by cutting costs, and the scale of layoffs is expected to reach 20% within the next two to three years.

PayPal was founded in 1998, and the founding team included prominent Silicon Valley figures such as Peter Thiel, Elon Musk, and Max Levchin. The company grew rapidly due to the e-commerce boom during the pandemic, but in recent years it has faced challenges such as slowing growth and pressure on stock prices. If the deal is completed, it will be one of the largest acquisitions in the fintech industry in recent years.