Less than two years ago, PayPal’s merger and acquisition ambitions included a huge $45bn deal to buy cutesy virtual scrapbooking company Pinterest. Stuttering growth forced the US online payments company to put those plans on hold in favour of cost cuts. New chief executive Alex Chriss could soon usher in a new era of acquisitions.
In announcing his appointment, PayPal’s board made sure to mention Chriss’s lead role in helping financial services company Intuit buy marketing company MailChimp for $12bn. This is bigger than any of PayPal’s own deals, which include buying payments start-up iZettle for $2.2bn in 2018 and price-comparison app Honey for $4bn in 2020.
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