On Monday, PayPal will once again be an independent company. And as it gears up for its big day, the social person-to-person payments service Venmo is the best thing PayPal has going for it. While PayPal grew a modest 27% in transactions last quarter, Venmo is growing nearly 10 times asRead More
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PayPal is ready to go its own way. Revenue for PayPal exceeded that of its sister unit, eBay Marketplaces, for the first time in 1Q, it was revealed in yesterday’s earnings call for eBay Inc. PayPal posted $2.1 billion on the quarter, compared with $2.06 for Marketplaces. PayPal’s revenue was 14% higher thanRead More
PayPal, reportedly is looking to make some acquisitions before it spins off from eBay, and is eyeing Square.
UPDATE (10/1/14, 1:41 PM ET) Earlier this month, before Apple Pay came out, Bank Innovation wrote that Apple and PayPal had been involved in talks for … something. We’ve finally tracked down the full story. Sources close to Apple and PayPal and in the financial services industry have confirmed thatRead More
Like a failed long distance relationship, eBay and PayPal are officially breaking up. But the real story story is even juicer than that.
It is no coincidence that three weeks to the day after Apple Pay‘s introduction eBay Inc “chose” to spin off PayPal. In announcing today that it will IPO PayPal in late 2015, eBay effectively acknowledged that PayPal will find it far more difficult to score the double-digit rate of growth theRead More
Earlier today, The Information reported that eBay has been interviewing external candidates for the top job at PayPal, which was vacated in June when David Marcus left to be the head of Facebook Messenger. However, PayPal employees are pushing for Bill Ready, the current CEO of Braintree, to become the president at PayPal, according to numerous sources who spoke to Bank Innovation.
PayPal continues to boost parent company eBay. The San Jose, Calif.-based auction giant had a “challenging quarter,” due to the much-publicized security breaches earlier this year, but still beat earnings estimates, the company reported last night.
David Marcus might not be the golden payments guru some (hint: Facebook) are making him out to be. A former PayPal executive with extensive knowledge of the goings-on there told Bank Innovation today that Marcus was anything but loved at PayPal.
Facebook managed to pull of a major hire today, poaching David Marcus from PayPal, the eBay-owned payments company where he served as president.