PayPal Ventures shutters as company restructuring continues (opens original article in a new tab)

PayPal Ventures is shutting down as part of company restructuring under new CEO Enrique Lores, who is recommitting to technology fundamentals and exploring secondary sales of venture holdings. The decision follows the departure of former CEO Alex Chriss and comes after a $30 million settlement with the Justice Department over an investment program.

• PayPal Ventures is shutting down as part of company restructuring
• PayPal CEO Alex Chriss was replaced by Enrique Lores in February
• PayPal is exploring secondary sales of venture holdings and recommitting to technology fundamentals
• PayPal reached a $30 million settlement with the Justice Department over an investment program