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This article was published on September 26, 2013


eBay acquires mobile payments platform and PayPal competitor Braintree for $800m in cash

eBay acquires mobile payments platform and PayPal competitor Braintree for $800m in cash
Ben Woods
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Ben Woods

Europe Editor

Ben is a technology journalist with a specialism in mobile devices and a geeky love of mobile spectrum issues. Ben used to be a professional Ben is a technology journalist with a specialism in mobile devices and a geeky love of mobile spectrum issues. Ben used to be a professional online poker player. You can contact him via Twitter or on Google+.

Online auction site eBay has agreed to acquire the online payments platform Braintree for $800 million in a bid to boost its mobile payments business.

The deal, announced today, will naturally include Braintree’s payment app Venmo and the business will continue to operate as a separate service under eBay’s ownership. Following completion of the purchase, current Braintree CEO, Bill Ready, will report to PayPal President David Marcus and the rest of the management and employees are also expected to be kept on.

Braintree, which was founded in Chicago in 2007, currently powers payments for companies like Airbnb, OpenTable, TaskRabbit and Uber.

➤  eBay Inc. to Acquire Global Payments Innovator Braintree [Business Wire]