PayPal Ventures folds: how $1.5B in cuts wiped out a 24-year bet on 14 unicorns — TFN

PayPal is closing PayPal Ventures, its corporate venture capital arm founded in 2002, as new CEO Enrique Lores aims to save $1.5B and cut 20% of the global workforce. The unit backed 14 unicorns including Plaid, Olo, and Tabby.

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