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eBay acquires Braintree, a competitor to its PayPal service for $800M

eBay wins $800 million bid for Braintree, a mobile payments platform that competes with PayPal (NASDAQ:EBAY)
| Business, Financial & Legal News | Posted: Sep 26, 2013 10:38 pm

Today, eBay has announced that it will be acquiring the mobile payments platform Braintree for a staggering $800 million in cash. The deal will includes Braintree's payment app Venmo, and the company's CEO, Bill Ready, will report directly to PayPal president David Marcus.




The rest of the Braintree staff will stay on in their current positions and business will continue as usual. For now, Braintree will operate as a separate company under eBay ownership. This acquisition is an interesting one, and at the moment, I am not sure if the buyout was to eliminate competition or acquire some IP that eBay did not want to license.


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