PayPal (NASDAQ: PYPL) rang the opening bell at Nasdaq this morning to celebrate their first day of being an independently publicly traded company. As of July 20th, PayPal has announced that it will completely separate from eBay (NASDAQ: EBAY), and begin to publicly trade with ticker “PYPL” on the Nasdaq Stock Market.
President and CEO of PayPal Dan Schulman notes that “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.“
Last year, PayPal processed over $235 billion in total payment, while generating more than $8 billion in revenue. PayPal also processed over $46 billion in mobile payments, serving more than 169 million active customer accounts in about 203 markets all over the world.
PayPal is poised to grow as they separate from eBay and move forward to focus on leveraging their strengths to drive long-term growth for not only their company but shareholders as well. Their singular focus being digital payments, PayPal will have a deep commitment to customer service, a drive for innovation and a technology agnostic platform that creates value for consumers and merchants online, in apps and in stores.
PayPal is currently trading at $40.59 valued at about $50 billion, and Ebay $28.57, valued at about $34 billion.