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PayPal (eBay)
Telera (Alcatel)
PayPal to be Acquired by eBay
07/2002
PayPal
(Nasdaq: PYPL), a
Sequoia Capital
company, is to be acquired by eBay (Nasdaq: EBAY), in a stock transaction valued at approximately $1.5B. PayPal's global payments platform enables consumers with email to securely, conveniently, and cost-effectively send and receive payments online. Approximately 60% of PayPal's business takes place on eBay, the online auction giant, making it the most preferred payment method among eBay users. Paypal has built a payment network of over 16 million registered users since it was founded in 1999 and continues to grow at an average of 28,000 accounts per day. PayPal's IPO in February 2002 stood out as one of the few successful IPOs of the past couple of years. PayPal's stock was offered to the public at $13 per share.
Read the
Press Release.
Address
303 Bryant Street
Mountain View, CA 94041
Tel: (650) 864-8000
Fax: (650) 864-8001
http://www.paypal.com
