AAPL Stock: 112.12 ( + 2.62 )

Printed from

eBay acquires payment startup Braintree for $800 million

updated 09:56 am EDT, Thu September 26, 2013

Buyout to bolster PayPal capabilities

eBay has agreed to acquire Braintree, a company that specializes in payment systems, for approximately $800 million in cash. The startup will initially operate as a separate division under eBay's PayPal division, which has served as a dominant competitor in the payment-services market.

Braintree's platform is said to be used by a wide range of companies, including Airbnb, OpenTable, TaskRabbit and Uber, among others. The company reports approximately $10 billion in payment processing each year, compared to $20 billion sent through PayPal.

"Bill Ready and his team add complementary talent and technology that we believe will help accelerate PayPal's global leadership in mobile payments," said eBay CEO John Donahoe. "Together, we expect that PayPal and Braintree also will accelerate our leadership in supporting developers who are creating innovative solutions for next generation commerce startups."

The deal currently awaits approval from regulators before finalization.

by MacNN Staff



Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Polk Hinge Wireless headphones

Polk, a company well-established in the audio market, recently released a new set of headphones aimed at the lifestyle market. The Hin ...

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...


Most Commented