26 June 2017
visit www.finastra.com

PayPal buys 'contextual commerce' startup Modest

20 August 2015  |  8082 views  |  0 modestfounders

PayPal has bought Modest, a 'contextual commerce' startup run by two former senior tech leads on Barack Obama's re-election campaign. Financial terms of the deal have not been disclosed.

Chicago-based Modest was founded in 2012 by Obama for America CTO Harper Reed and lead engineer Dylan Richard.

The company has developed a mobile commerce platform that lets merchants create a customised store, integrate stores with other apps and use buy buttons to sell, to give them the "ability to offer an end-to-end experience that makes selling on any platform easier and simpler".

Reed, Richard and their small team will join Braintree, the Chicago-based outfit PayPal acquired for $800 million in 2013.

In a blog on the acquisition, PayPal's Bill Ready, who was Braintree CEO, cites the example of Buyable Pins on Pinterest, which Braintree powers, as an example of the kind of contextual commerce Modest will help with.

"This means we will be able to offer merchants a complete commerce solution (payments and order management) to help them add contextual commerce channels to the ways that they sell to their customers," writes Ready.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

PayPal and the US Department of Commerce to mine economic data

PayPal and the US Department of Commerce to mine economic data

17 August 2015  |  5674 views  |  0 comments | 13 tweets | 7 linkedin
PayPal value hits $50 billion on market debut

PayPal value hits $50 billion on market debut

20 July 2015  |  8453 views  |  0 comments | 27 tweets | 18 linkedin
PayPal to enter international money transfer market with Xoom acquisition

PayPal to enter international money transfer market with Xoom acquisition

02 July 2015  |  8214 views  |  0 comments | 26 tweets | 11 linkedin
PayPal buys mobile payments firm Paydiant

PayPal buys mobile payments firm Paydiant

02 March 2015  |  10601 views  |  0 comments | 21 tweets | 17 linkedin
Braintree brings One Touch mobile payments to international markets

Braintree brings One Touch mobile payments to international markets

03 December 2014  |  6744 views  |  1 comments | 9 tweets | 4 linkedin
EBay agrees $800m Braintree acquisition

EBay agrees $800m Braintree acquisition

26 September 2013  |  11783 views  |  1 comments | 15 tweets | 11 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.finastra.comvisit vasco.com/news/PSD2-compliant-solutionsdownload the report now

Top topics

Most viewed Most shared
Live: EBAday 2017, day twoLive: EBAday 2017, day two
10163 views comments | 4 tweets | 5 linkedin
Worldpay pilots app-only mPOS for small retailersWorldpay pilots app-only mPOS for small re...
9473 views comments | 20 tweets | 27 linkedin
Live: EBAday 2017, day oneLive: EBAday 2017, day one
9277 views comments | 3 tweets | 4 linkedin
UK banks will need to change one million sort codes under ring-fencing rulesUK banks will need to change one million s...
8566 views comments | 8 tweets | 25 linkedin
ECB preps eurozone-wide instant payments serviceECB preps eurozone-wide instant payments s...
7901 views comments | 19 tweets | 33 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job