PayPal Ventures folds: how $1.5B in cuts wiped out a 24-year bet on 14 unicorns

PayPal shuts down PayPal Ventures, ending 24-year venture arm that backed 14 unicorns including Plaid, Olo, and Tabby. The move cuts $1.5B across 4,760 global jobs, part of CEO Enrique Lores' 2026 restructuring. Portfolio sold via Jefferies after last two partners Ashish Aggarwal and Alexandros Bottenbruch exit.