Topic: Max Levchin
PayPal is cutting about 325 jobs as part of a major reorganization by its new president in an effort to head off competition. Though revered on Wall Street, Paypal has a reputation as slow and bureaucratic on Silicon Valley, making it hard to attract top-level talent.
Yelp IPO targets stock price at $12 to $14 a share. Yelp IPO target suggests company could be worth up to $840 million.