Brief: PayPal files for IPO

Brief: PayPal files for IPO

Person-to-person payments operator PayPal has filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering of its common stock.

All of the securities in the proposed IPO are being offered by PayPal. Salomon Smith Barney Inc, Robertson Stephens, Inc, and William Blair & Company are to act as managers for the proposed offering.

PayPal enables consumers and businesses to send and receive cash payment messages funded from bank accounts, credit cards or their PayPal online accounts via email.

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