Submission + - SPAM: EBay is dumping PayPal for a Dutch rival Adyen
schwit1 writes: EBay, one of the world's biggest online marketplaces, announced Wednesday that it's dropping PayPal as its main partner for processing payments in favor of Dutch company Adyen.
In 2002, eBay paid $1.5 billion to buy PayPal, an online payments company whose founders include Silicon Valley heavyweights Elon Musk and Peter Thiel.
It proved to be a very successful investment. When eBay spun off PayPal in 2015 — something investors and analysts had urged it to do — the payments company's market value was close to $50 billion. It's now above $100 billion.
Based in Amsterdam, Adyen already works with other big tech companies including Uber and Netflix. It says it handles more than 200 different payment methods and over 150 currencies.
Link to Original Source
In 2002, eBay paid $1.5 billion to buy PayPal, an online payments company whose founders include Silicon Valley heavyweights Elon Musk and Peter Thiel.
It proved to be a very successful investment. When eBay spun off PayPal in 2015 — something investors and analysts had urged it to do — the payments company's market value was close to $50 billion. It's now above $100 billion.
Based in Amsterdam, Adyen already works with other big tech companies including Uber and Netflix. It says it handles more than 200 different payment methods and over 150 currencies.
Link to Original Source