TweakTown
Tech content trusted by users in North America and around the world
5,676 Reviews & Articles | 36,077 News Posts
Weekly Giveaway: Fractal Design Arc Cases Contest (Global Entry!)

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.

 

TweakTown image news/3/3/33158_1_ebay_acquires_braintree_a_competitor_to_its_paypal_service_for_800m.jpg

 

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.

NEWS SOURCE
Thenextweb.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

Latest Downloads

View More Latest Downloads

TweakTown Web Poll

Question: Did EA kill the Battlefield franchise with the terrible BF4 issues?

Yes, Battlefield is doomed

No, Battlefield will live on strong

I'm not sure, but I know EA needs to improve its game

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Get TweakTown updates via Facebook!
Just click the "Like" button below