PayPal completes eBay split
Dan Schulman, president and CEO of PayPal, said the business would be focussing on enabling digital payments on a “technology agnostic platform that creates value for our consumers and merchants online, in apps, and increasingly in stores.”
“As the world’s open, digital payments platform and most trusted and popular digital wallet, we are excited to celebrate our listing day and embark on our next chapter,” said Schulman.
“Mobile technology is transforming payments, making it easier, safer and more affordable for people to move and manage their money than ever before. 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.”
PayPal previously was listed on the Nasdaq under the same ticker symbol, PYPL, before it was acquired by eBay in 2002 for $1.5 billion. “We’d like to thank our friends at eBay for their tremendous support and partnership over the past 12-plus years,” said Schulman.
In 2014, PayPal processed $235 billion in total payment volume and generated more than $8 billion in revenues. Also last year, PayPal processed $46 billion in mobile payment volume. The company serves more than 169 million active customer accounts in 203 markets around the world.