PayPal Pauses Venture Capital Portfolio Sale After Lowball Offers

PayPal has paused its planned sale of its venture capital portfolio after offers came in at no higher than 60 cents on the dollar, Seeking Alpha reported Friday (Sept. 4), citing a paywalled article by Axios that was based on unnamed sources. The investments in PayPal’s portfolio include shopping app Tabby and crypto platform Anchorage , and the company’s attempt to sell the portfolio followed its decision earlier this year to wind down its venture capital arm, according to the report.