TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

EBay to buy mobile payment company Braintree

By The Associated Press
Friday, Sept. 27, 2013, 12:01 a.m.
 

PayPal parent eBay said it is buying online and mobile payments technology provider Braintree for $800 million in cash.

Braintree's clients include popular startups such as vacation rentals site Airbnb, cab-hailing app Uber and restaurant reservations site OpenTable.

PayPal is working to evolve from its roots as an online payments provider by expanding its offline, mobile and online offerings to stores, restaurants and other business.

San Jose, Calif.-based eBay Inc. said it will operate Braintree as a separate business. Bill Ready, the CEO of the Chicago-based company, will report to Pay­Pal President David Marcus.

Braintree's roughly 200 employees are staying with the Chicago-based company.

EBay said it expects to close the deal before the end of the year.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Balancing gas pipeline expansion, environmental unease a problem in Pa.
  2. Stocks slip on China growth jitters
  3. Coal gathering opens with dour assessment, political vitriol
  4. Symposiums to spotlight Pittsburgh’s role as an energy powerhouse
  5. Pa. considers $300,000 plan to clean polluted site in Kennedy
  6. Hospitals turn to technology to tear down language barriers with patients
  7. More companies embrace exchanges to curb health care costs
  8. Range Resources to pay $4.15M fine, close old gas drilling impoundments
  9. Mylan CEO Bresch sets sights on growth
  10. Shell touts Utica gas wells in northern Pa.
  11. UPMC buying New Castle-based Jameson Health System
Subscribe today! Click here for our subscription offers.