PayPal Reorganizes Venmo as Standalone Business Unit

PayPal is restructuring Venmo into its own standalone business unit. The reorganization aims to make it easier to track Venmo's performance or potentially sell the app, which has nearly 100 million users. The move signals a strategic shift for PayPal, which acquired Venmo in 2013 as part of its Braintree purchase. Venmo has grown into a popular peer-to-peer payment platform, particularly among younger users. The standalone structure could increase transparency for investors and facilitate a future spin-off or sale.