Jack Dorsey Denies Reports That PayPal Is In Talks To Buy Square
Getty Images/Bill Pugliano
Square CEO Jack Dorsey
Kar's sources said that PayPal's new CEO Dan Schulman is exploring potential acquisitions in light of PayPal's imminent spin-off from eBay, and that the talks with Square are "intense" but still in the early stages.
Dorsey linked to the article on Twitter along with the word "FALSE."
Keith Rabois, one of PayPal's cofounders, also denied the report on Twitter:
@mdudas don't believe what you read. Every assertion re Square in that article is false.
- Keith Rabois (@rabois) October 14, 2014
Square is currently valued at $6 billion after raising $150 million earlier this month. Kar's sources said that if a deal was reached, it would likely close before PayPal's spinoff.
Before getting recruited for PayPal, Schulman was an executive at American Express, where he reportedly spoke openly about how acquisitions can breathe new life into a company. PayPal, which also owns Braintree, the company that powers the popular peer-to-peer payments app Venmo, was recently snubbed by Apple, which chose to partner with Stripe for the launch of Apple Pay.
Next Story
5 things to avoid doing if your phone gets wet
Intense rains quench Uttarakhand’s wildfire frenzy; Supreme Court tells state govt. to stop relying on rain god
IPL decoded: Can RCB still qualify? Probabilities of IPL teams qualifying for the playoffs
IPL decoded: Hasty 100s - The fastest centuries in IPL 2024 so far
5 pasta types for home cooking enthusiasts
