Elon Musk considering crypto payments for Twitter in push to build ‘everything app’ [Fortune]
PayPal Holdings, Inc. (PYPL)
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Source: Fortune
Three months after Elon Musk took over Twitter, the social media platform is laying the groundwork to introduce payment tools, according to a report from the Financial Times. With Twitter reportedly hemorrhaging millions of dollars a day, Musk has been searching for new sources of revenue, with payments offering a potential path forward. The billionaire entrepreneur known for electric cars and rockets got his start with PayPal, after all. Musk floated payments for Twitter in a pitch deck that he presented to investors in May, saying Twitter could generate as much as $1.3 billion by 2028. Currently, the platform only generates around $15 million annually from payment tools like tipping and shopping. One possible expansion for Twitter would be crypto payments, an area where the company already has experience. The platform’s previous CEO, Jack Dorsey, is a crypto enthusiast. In September 2021, Twitter partnered with the payments company Strike to launch a Bitcoin tipping feature just
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PYPL
News
- Payment cards continue to dominate e-commerce payments in Australia, reveals GlobalData [Yahoo! Finance]Yahoo! Finance
- Stripe Brings Back Crypto Payments on Platform With Stablecoins [BNN Bloomberg (Canada)]BNN Bloomberg
- Unlocking Q1 Potential of Paypal (PYPL): Exploring Wall Street Estimates for Key Metrics [Yahoo! Finance]Yahoo! Finance
- Airwallex expands payment acceptance solution to the US [Yahoo! Finance]Yahoo! Finance
- Stripe Unlocks Its All-or-Nothing Payment Processing Approach [BNN Bloomberg (Canada)]BNN Bloomberg
PYPL
Earnings
- 2/7/24 - Beat
PYPL
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- PYPL's page on the SEC website