eBay and PayPal officially part ways today
We knew eBay and PayPal were headed to splitsville this year, and now it’s actually happening. The auction site and the payment service separated into two disparate companies today, PayPal is getting its own stock ticker, starts trading on the New York Stock Exchange come Monday and, according to Business Insider that doesn’t look so good for eBay. As the site tells it, PayPal’s been the reason for “most” of eBay’s gains for the past three years, and “nearly all” of it for 2015. eBay revenues have already jumped seven percent thanks to higher demand for PayPal, according to Reuters. Maybe the online auction house can use the $925 million it got from the PayPal sale to figure out a way to become profitable — crazier things have happened.
[Image credit: Associated Press]
On July 20 we will be a publicly traded company on @Nasdaq for the 2nd time in our 17 year history. #PYPL
– PayPal (@PayPal) July 16, 2015
Filed under: Internet
Source: eBay, PayPal (Twitter)
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