In September of 2014, eBay announced that they would be splitting from PayPal and that PayPal would be spun off into a separate company and traded on the stock markets under its own name. Now it is finally official as the split has been announced. Beginning on Monday, eBay and PayPal will traded on the NASDAQ as two separate companies – EBAY & PYPL.
A blog post written by eBay’s John Donahoe says, “eBay and PayPal are two great, special businesses. And as each prepares for its next chapter as an independent company, I could not be prouder of our employees and what they have accomplished. Going forward, eBay and PayPal will each have a sharper focus and greater flexibility to pursue future success in their respective markets.”
This split comes after mobile payment services from competing companies have been gaining more ground. Like Apple Pay and the recently announced Android Pay for example. This split will concern investors in the company more than the average user. Things are not expected to change for consumers. We suppose it had to happen eventually. I wonder if those other payment options will continue to grow until PayPal is less preferred.
PayPal will continue to be the primary payment provider for eBay, so if you do a lot of shopping and trading on eBay, this should not affect you and you can continue as normal.
Source UbergizmoFiled Under: Technology News