PayPal has been seeking buyers for Xoom, a service that allows people to transfer money internationally, according to a person familiar with the matter. The sale efforts could signal that activist investor Elliott Management, which accumulated a stake last year, is having an impact on PayPal’s strategic thinking.
PayPal acquired Xoom in 2015, paying roughly $1 billion for the service, which allows customers to send other people cash, pay international bills or reload a prepaid mobile phone. PayPal has been working with Goldman Sachs on the sales process in recent months, the person said.
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