Contact Us

EBay To Buy Payments Company Braintree For $800M

Glee's Darren Criss Performs Holiday Concert At The eBay Toy Box Pop-up
Photo by Craig Barritt/Getty Images for eBay

NEW YORK (AP) — PayPal parent eBay says it is buying online and mobile payments technology provider Braintree for $800 million in cash.

Braintree’s payments technology is used by popular startups such as vacation rentals site Airbnb, cab-hailing app Uber and restaurant reservations site OpenTable.

The move comes as eBay’s PayPal unit works to evolve from its roots as an online payments provider, expanding its offline, mobile and online offerings to stores, restaurants and other business.

San Jose, Calif.-based eBay Inc. says that it will operate Braintree as a separate business. Bill Ready, the CEO of the Chicago-based company, will report to PayPal President David Marcus.

Braintree’s roughly 200 employees are staying with the Chicago-based company.

EBay says it expects to close the deal before the end of the year.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Best of News Talk 940

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for VOA VIP Club quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive VOA VIP Club contests, events, coupons, presales, and much more delivered to you for FREE.