Ebay purchases Braintree for $800M

Ebay purchases Braintree for $800MThe company Ebay announced about purchase of a platform for payment Braintree for $800M. This will allow enforcing of PayPal existence, which belongs to Ebay, in segment of mobile phones and tabs. Payment platform Braintree publishes application Venmo, which allows customers making payments via mobile devices.

By this acquisition Ebay not only strengthens its position on the market, but also eliminates a competitor, considers analyst of RBC Capital Markets Mark Mahaney.

At the moment there are about 180 people working in Braintree. The service provides solutions for online-sellers, provides work of payment channels, possesses own billing system and creadit cards storage. Nowadays the platform Braintree uses service of online-reservation Airbnb and restaurant service OpenTable.

According to terms of the agreement, Braintree will save its platform as independent direction inside the Paypal system, and will save its management system.