TweakTown
Tech content trusted by users in North America and around the world
6,143 Reviews & Articles | 39,490 News Posts
Weekly Giveaway: Win an Antec Case, PSU and Cooler (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 SOURCES: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!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases