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PayPal, Ebay split completed

Media | 07/20/2015 6:08 pm EDT

PayPal Holdings Inc. announced Monday in a press release its separation from Ebay Inc. is complete and it will now be an independently traded company on the Nasdaq. “Mobile technology is transforming payments, making it easier, safer and more affordable for people to move and manage their money than ever before,” Dan Schulman, PayPal CEO, said in the release. “As an independent company, we see a tremendous opportunity for PayPal to expand our role as a champion for consumers and partner to merchants, and to help shape the industry as money becomes digital at an increasingly rapid pace.” The company noted in the release that it processed $46 billion in mobile payments last year and that it serves more than 169 million customers in 203 markets. The announcement of the two companies splitting came last year. The...

EBay, PayPal to break up

Media | 09/30/2014 4:06 pm EDT

EBay Inc. said Tuesday that its EBay and PayPal divisions will split into two separate companies next year. The companies said in a press release the two divisions would spin off from each other in the second half of 2015, subject to regulatory approval and other conditions. "As independent companies, EBay and PayPal will enjoy added flexibility to pursue new market and partnership opportunities," EBay CEO John Donahoe said in the release. "And we are confident, following a thorough assessment of the relationships between EBay and PayPal, that operating agreements can maintain synergies going forward." The company said Donahoe and chief financial officer Bob Swan will lead the split. Neither will be an executive in the separate companies, though they will sit on one or both boards to provide some continuity, EBay said....