eBay Buys Braintree For $800 Million

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We’re sure for as many people there are enjoying both eBay and PayPal, there are as many people who continue to have issues when attempting to purchase something on the service, whether it be an issue with their eBay account itself or something wrong with PayPal. Regardless of that, people still love to shop on eBay and its PayPal service will be getting a boost as the company has agreed to purchase global payment platform Braintree for $800 million. eBay plans to integrate Braintree into its PayPal unit.

Braintree was founded in 2007 and at this point, had a total of 4,000 merchants using its service, which was created in order to help process payments for start-up companies. Braintree also owns Venmo, which allows users to pay each other for free through use of its mobile application. “Braintree is a perfect fit with PayPal,” said eBay’s John Donahoe. “Bill Ready and his team add complementary talent and technology that we believe will help accelerate PayPal’s global leadership in mobile payments. Together, we expect that PayPal and Braintree also will accelerate our leadership in supporting developers who are creating innovative solutions for next generation commerce startups.”

Read more about ebay and paypal. Source: businesswire

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