TribLIVE

| Business


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

EBay to buy mobile payment company Braintree

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

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.

Subscribe today! Click here for our subscription offers.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Pipeline companies weather downturn in prices of natural-gas, oil
  2. Super Bowl ads win by playing to viewers’ emotions, experts say
  3. U.S. Steel maps out greater efficiency for 2015
  4. ‘Patient’ Fed keeps interest rates flat
  5. Alibaba ripped  in report
  6. Super Bowl draws big increase in first-time advertisers
  7. McDonald’s replaces CEO amid sales decline, effort to transform image
  8. Obamacare enrollment up in Pennsylvania
  9. SEC alleges BNY Mellon bribed foreign investors by handing internships to their relatives
  10. Pennsylvania shale gas producers received hundreds of environmental citations in 4 years, PennEnvironment says
  11. U.S. Steel warns it may lay off almost 2,000 workers in Alabama, Texas