SHORT CUTS1️⃣ Penny for your thoughts, PayPal?  Remember when PayPal was the go-to way to send money online? Now, it's facing a takeover offer from what was once a smaller competitor, Stripe, and a private equity firm, Advent. The bid values PayPal at US$53 billion, quite a dramatic drop from its peak valuation of US$340 billion in 2021. PayPal's board is reportedly unimpressed by the offer, but it just goes to show how quickly you can go from giant incumbent to just another acquisition target. 2️⃣ Deal-hungry Speaking of blockbuster acquisitions, Uber has ended a long will-they-won't-they story by acquiring food delivery company Delivery Hero. The deal is reportedly worth US$14.8 billion and will see Uber take over the assets of Delivery Hero subsidiary Foodpanda in Southeast Asia and Hong Kong. This also closes a chapter in Southeast Asia's delivery wars, replacing Grab's longtime rival Delivery Hero with a new owner whose ambitions for the region remain unclear. 3️⃣ Logging off South Korea is the latest country to mull age restrictions for social media, following the lead of countries including Australia, the UK, Malaysia, and Indonesia. Would we all be happier without access to endless scroll and vertical videos? At the time of writing, I'm hours away from boarding an eight-hour flight, and what I'm most excited about is not having WiFi, so you be the judge. |