EBay has purchased payment company Braintree for $800 million to expand its PayPal and its digital payment program. Through the purchase, EBay also acquires Venmo, a digital application that enables users to send payments through text messages. Braintree has worked with innovative tech start-ups including Airbnb, Uber, and Opentable, and can contribute to PayPal’s market share capture in the growing e- and m-commerce space.
EBay also recently purchased Svpply, a social shopping site, and Red
Laser, an application that reads bar codes. Coupled with these acquisitions,
the Braintree purchase will enhance EBay’s portfolio of innovative applications
and technology, as well as expand opportunities for digital marketers to reach
customers and drive sales. Marketers can now sell to customers via additional
channels and more purchase processing opportunities. Additionally, with PayPal’s
established customer base, a broader range of company types across industries
can utilize these multi-channel purchasing platforms to reach customers.
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