eBay Buys PayPal
from the it's-about-time dept
For months leading up to PayPal’s IPO many people were saying that it was just a ruse to get someone (most likely eBay) to buy them. No one showed up, though, and PayPal actually went public. It seems eBay was just a little slow to realize that no one was actually using their own, competing money transfering service. Most people who want to settle eBay deals electronically use PayPal. That as an awful lot of money transferring hands where eBay didn’t get a cut. So, finally, eBay has bought PayPal for $1.5 billion.