PayPal shares rose about 4% after CNBC reported Venmo will become a standalone business unit.
The reorganization splits PayPal into three segments: independent Venmo, PayPal‑branded merchant‑consumer services, and a payment services unit with Braintree and crypto.
CEO Enrique Lores said the move eases tracking Venmo’s performance and could facilitate a future sale, amid interest from buyers like Stripe.
PayPal is seeking a digital‑banking executive to lead the new Venmo segment.