Friday, April 26

Tag: Paypal investment

PayPal to invest $500 million in Uber before IPO
29Apr By reutersNo Comments
FUNDING

PayPal to invest $500 million in Uber before IPO

Online payments company PayPal Holdings Inc plans to invest $500 million in Uber Technologies Inc as the ride-hailing firm readies to unveil terms for its initial public offering on Friday, Refinitiv IFR reported. PayPal will invest in Uber through a concurrent private placement at the IPO price, IFR reported on Thursday, citing sources.  A financial services component is important to Uber as it works to expand into a "superapp" of logistics and transportation services.  Superapps are applications where customers go for a range of services, such as transportation, shopping, and payments. Such companies can be much more lucrative than those that offer just one core business or service. Uber is expected to tell investors it will seek to be valued at between $80 billi...
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Paypal First time invested in a Blockchain Startup
6Apr By AdityaNo Comments
FUNDING

Paypal First time invested in a Blockchain Startup

Leading online payment transaction platform PayPal has made its first-ever investment in a blockchain technology company known as Cambridge Blockchain. Cambridge Blockchain helps financial institutions and other companies manage sensitive data using shared ledgers. The company has raised Series A funding. Neither PayPal nor Cambridge Blockchain answer the mail sent by Pixr8 team during the publishing of this article. In a recent filings with the SEC Cambridge Blockchain mention that it has raised $7 million close of its Series A in May of 2018 from HCM Capital, the VC arm of Foxconn, which manufactures the iPhone for Apple, as well as Digital Currency Group. The total capital raised by the Cambridge Blockchain is $10.5 million. The subsequent $3.5 million came from PayPal ...
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