PayPal: considering another acquisition in Japan
(CercleFinance.com) - PayPal's CEO Dan Schulman is reportedly interested in a new acquisition in Japan, Nikkei Asia reported today.
In an interview with the Japanese daily, Dan Schulman said he wanted to reach at least 50 billion dollars in revenues by 2025, which is about 2.3x its 2020 numbers. To achieve this, the group wants to develop its presence in Asia, and particularly Japan.
Already at the beginning of September PayPal announced an agreement to acquire Paidy, the pioneer of instant purchase and subsequent payment solutions in Japan, for a sum of 2.7 billion dollars, mainly in cash.
The acquisition expands PayPal's capabilities in the domestic payments market in Japan, the third largest e-commerce market in the world, complementing its existing cross-border e-commerce business in the country.
PayPal lowered its 2021 targets slightly last November. The group now expects adjusted EPS of around 4.60 dollars, with revenues of between 25.3 billion and 25.4 billion dollars, just below its previous estimates of respectively 4.70 dollars and 25.5 billion dollars.
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