All the latest UK technology news, reviews and analysis

Ebay to buy PayPal

by Chris Lee in Melbourne

09 Jul 2002

Be the first to comment

  • Tweet this

Online auctioneer eBay is to buy close associate and fellow dotcom survivor PayPal in a $1.5bn stock deal.

PayPal, a major online payment services company, conducts as much as 60 per cent of eBay customers' transactions already. In its announcement of the deal yesterday, eBay said it would begin to phase out its BillPoint service, purchased in 1999, in favour of PayPal.

"We think it will accelerate revenues at both companies," said eBay chief executive, Meg Whitman. "Currently only 40 per cent of the payments on eBay are done electronically, so there is a lot of room for growth."

Analysts said that the PayPal acquisition would make eBay transactions easier by adding a seamless payment system for customers.

eBay also reported that its second-quarter earnings figures would exceed expectations due to strong growth both in the US and around the world.

Do you agree?

 

Add your comment

We won't publish your address
By submitting a comment you agree to abide by our Terms & Conditions. Your comment will be moderated before publication.

Poll

IT priorities for 2012

What is the most important IT priority for your company this year?

99%

0%

1%

0%

0%

Connect with V3.co.uk

Sign up to our daily or weekly newsletters

Accurev

Top 5 software development challenges

This paper focuses on a series of best practices and techniques for development teams looking to improve their software development processes

Talend

Rubbish in, rubbish enterprise

Why good data management at all levels is essential in the modern business (video, 6mins)

SOFTWARE ENGINEER - UNIX C JAVA ORACLE

SOFTWARE ENGINEER - BERKS - to £34k plus package WAREHOUSE...

Senior Project Manager

We currently have a position for a Senior Project Manager...

JAVA DEVELOPER - BERKSHIRE - TO £34k PLUS PACKAGE

JAVA DEVELOPER TRANSPORT MANAGEMENT SYSTEMS / TMS...

Business Analyst - Software

We are looking for an experienced Software Business Analyst...

To send to more than one email address, simply separate each address with a comma.