The e-commerce giant eBay is set to spilt their popular payment platform, PayPal, as an independent company. PayPal will start trading in the stock market under the symbol “PYPL” starting from July 20 and Paypal shares will be shared within eBay stockholders just before then.
John Donahoe, chief executive and president of parent company, eBay Inc said :
eBay and PayPal are two great, special businesses, As separate, independent companies, eBay, led by Devin Wenig, and PayPal, led by Dan Schulman, will each have a sharper focus and greater flexibility to pursue future success in their respective global commerce and payments markets
With $1.5 billion eBay acquired PayPal in 2002.Last year, PayPal had $235 billion in transactions, with a certain percentage of it being held back by the company as “payment charges”.