Stripe and Advent are reportedly in talks to buy PayPal

Stripe might be about to buy its older rival, PayPal.

Stripe and private equity firm Advent are reportedly in negotiations to acquire PayPal, according to the Wall Street Journal. The pair offered $60.50 a share in July—a $53 billion valuation—and while PayPal initially balked, talks have reportedly resumed and could yield a deal in the coming weeks. PayPal declined to comment, while Stripe said it does not comment on rumors or speculation.

Why it matters: PayPal helped build online commerce after its 1998 launch, but it has struggled since its pandemic boom cooled. A deal would combine the pioneer of web checkout with today's dominant developer infrastructure, reshuffling the entire payments industry.

Know this: PayPal CEO Enrique Lores is currently trying to fix the business independently by splitting it into three operating models and cutting 20% of its workforce over the next two to three years.

Turns out the fastest way to "become a technology company again" might just be getting bought by one.