EBay takes Icahn’s advice to spin off PayPal as payment service sees revenues rocket 19pc September 30, 2014 ONLINE auction site eBay yesterday announced plans to spin off its PayPal business in the second half of 2015, saying that to fail to do so would be “less advantageous to each business strategically and competitively.” The separation will ensure that the independent companies are able to “capitalise on their respective growth opportunities in the rapidly [...]
Ebay shares jump in pre-market trading as it confirms Paypal spin-off and poaches American Express’ Dan Schulman as its new chief exec September 30, 2014 Ebay shares jumped 11 per cent in pre-market trading as it confirmed plans to spin off its online payment company Paypal into a separately listed company sometime in the second half of next year. The auction site said following a strategic review, its board had decided separating the two companies will position them "to capitalise [...]
PayPal’s Peter Thiel: “Twitter workers smoke a lot of pot” September 17, 2014 Has the co-founder of Paypal just effectively accused Twitter's workforce of being high on the job? Peter Thiel, an early investor in Facebook, was speaking on American cable channel CNBC when he suggested that “there’s a lot of pot smoking going on” at Twitter's headquarters. Thiel said: Twitter’s hard to evaluate. They [...]
Ebay share price jumps as online retailer mulls PayPal spinoff August 21, 2014 Ebay is reportedly considering a spinoff of PayPal, its fast-growing online payments division, as early as next year. Shares of the online retailer jumped 4.6 per cent yesterday to $55.89 in New York. Ebay told its potential candidates for the position of PayPal chief executive, a post that former boss David Marcus left in June, [...]
PayPal launching small business lending scheme Working Capital for British firms July 22, 2014 PayPal is set to start lending to small businesses this autumn with the launch of PayPal Working Capital, the payments firm will announce today. The scheme offers PayPal’s business customers the ability to take a cash advance against their future sales for a one-off fee, rather than a traditional business loan with interest. The UK [...]
PayPal boss David Marcus out as Amazon starts rival June 9, 2014 THE PRESIDENT of payments firm PayPal has quit to join Facebook, parent company EBay said last night. David Marcus has led PayPal since April 2012, having joined when the firm took over his payments start-up Zong. He will leave on 27 June to lead Facebook’s messaging products. His departure was announced on the same day [...]
PayPal rival Stripe aims for the currency crown with expansion February 11, 2014 STRIPE, the online payments firm started by two Irish brothers in their mid-20s and valued at $1.75bn (£1.06bn) last month, has expanded its payment services from four to over 130 currencies. “This is something phenomenally important to businesses, because when you’re selling to an increasingly global audience you want to be able to make transactions [...]