23 August 2017
Visit http://response.ncr.com

PayPal value hits $50 billion on market debut

20 July 2015  |  12386 views  |  0 Stock market graph

Shares in PayPal rose around five per cent on its first morning of trading back on the Nasdaq following its separation from eBay, valuing the firm at around $50 billion, considerably more than its former parent.

PayPal's shares hit a high of $41.63 before settling back to $40.30, up from Friday's close of $38.35 when shares were trading on a "when issued" basis. Meanwhile, eBay shares held steady at $28.21, valuing the online marketplace at around $33 billion.

Founded by Peter Thiel, Elon Musk and others in the late 1990s, PayPal went public in 2002 before being snapped up by eBay in the same year for $1.5 billion. The split decision comes after activist investor Carl Icahn began agitated for a spin-off, arguing that that the auction site was hampering the growth and competitiveness of its payments subsidiary.

PayPal has 169 million active users and processed $235 billion in total payment volume and generated more than $8 billion in revenues last year. The firm claims that it is well-positioned to take advantage of the coming mobile money revolution in which it will battle the likes of Visa, MasterCard, Google, Apple, Stripe and a host of startups.

Dan Schulman, president and CEO, PayPal, says: "Mobile technology is transforming payments, making it easier, safer and more affordable for people to move and manage their money than ever before. As an independent company, we see a tremendous opportunity for PayPal to expand our role as a champion for consumers and partner to merchants, and to help shape the industry as money becomes digital at an increasingly rapid pace."

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 to enter international money transfer market with Xoom acquisition

PayPal to enter international money transfer market with Xoom acquisition

02 July 2015  |  8300 views  |  0 comments | 26 tweets | 11 linkedin
PayPal backs away from controversial robocalling policy

PayPal backs away from controversial robocalling policy

29 June 2015  |  3923 views  |  0 comments | 4 tweets | 2 linkedin
PayPal founder Levchin raises $275m for lending startup

PayPal founder Levchin raises $275m for lending startup

06 May 2015  |  7604 views  |  3 comments | 15 tweets | 8 linkedin
PayPal exec wants to replace passwords with injectable chips

PayPal exec wants to replace passwords with injectable chips

20 April 2015  |  17100 views  |  6 comments | 46 tweets | 23 linkedin
PayPal's Schulman lays out plan to rule the digital commerce world

PayPal's Schulman lays out plan to rule the digital commerce world

06 March 2015  |  18388 views  |  3 comments | 26 tweets | 26 linkedin
PayPal buys mobile payments firm Paydiant

PayPal buys mobile payments firm Paydiant

02 March 2015  |  10741 views  |  0 comments | 21 tweets | 17 linkedin
EBay and PayPal to split

EBay and PayPal to split

30 September 2014  |  7426 views  |  0 comments | 25 tweets | 26 linkedin
EBay ponders PayPal spin-off - report

EBay ponders PayPal spin-off - report

22 August 2014  |  8780 views  |  0 comments | 16 tweets | 5 linkedin
Icahn backs down in eBay spat over PayPal spin-off

Icahn backs down in eBay spat over PayPal spin-off

10 April 2014  |  4151 views  |  0 comments | 4 tweets | 1 linkedin
EBay urges shareholders to reject Icahn's PayPal spin-off plan

EBay urges shareholders to reject Icahn's PayPal spin-off plan

25 March 2014  |  3662 views  |  0 comments | 2 tweets | 7 linkedin
EBay rebuffs calls to spin-off PayPal

EBay rebuffs calls to spin-off PayPal

23 January 2014  |  3605 views  |  0 comments | 3 tweets | 3 linkedin
eBay acquires PayPal in $1.5 billion deal

eBay acquires PayPal in $1.5 billion deal

08 July 2002  |  8611 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.vasco.comdownload the paper now

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
12738 views comments | 27 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11366 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10523 views comments | 21 tweets | 34 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10481 views comments | 10 tweets | 8 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10444 views 0 | 6 tweets | 1 linkedin

Featured job

Find your next job