Friday, 22 June, 2018

PayPal's 5 biggest acquisitions before its $2.2 billion iZettle deal

Dan Schulman PayPal PayPal CEO Daniel SchulmanAP
Jodi Jackson | 18 May, 2018, 16:32

IZettle, which provides mobile card readers and offers digital payment services to small businesses, is used by nearly half a million merchants. It claimed more than 200 million active customer accounts at the end of a year ago.

Up to now, although it has a limited presence in the area of point-of-sale, it doesn't have the same infrastructure of its potential rivals, whereas iZettle is becoming increasingly popular for pop-ups, markets and small businesses where a landline connected merchant is less appealing.

Schulman described the merging of iZettle and PayPal as a "strategic fit" combining shared values and culture with complementary product offerings and geographies.

The agreement will allow PayPal to expand its presence in payments in physical stores worldwide and will mark the largest acquisition ever made by the United States company.

PayPal president Dan Schulman said: "This combination brings together iZettle's in-store expertise, recognised brand and digital marketing strength with PayPal's global scale, mobile and online payments leadership, and trusted brand reputation". The acquisition will expand PayPal in different countries such as France, Germany, Italy, Mexico, Brazil, Denmark, Finland, Sweden, Norway and Spain.

"This is the largest acquisition in our company's history and significantly expands our in-store presence around the world, strengthening our platform to help millions of small businesses around the world grow and thrive in an omnichannel retail environment".

Being the biggest ever acquisition for Paypal, the payment giant is obviously taking a huge bet by acquiring the Stockholm headquarter startup. While it may raise some questions around the ambitions of European technology startups, given that iZettle had recently revealed its intentions to go public, it also revealed how eager PayPal is to boost its brick-and-mortar aspirations in Europe. The two companies will continue to operate independently until close.

Recommended

  • European Union  considers little-used statute to block United States  sanctions over Iran

    European Union considers little-used statute to block United States sanctions over Iran

    The EU will remain committed to the Iran nuclear deal, the European Commission said on Friday. Brussels also needs to prove that Washington can not dictate how European businesses operate.
    Apple wants Samsung to cough up $1bn in patent damages from 2012

    Apple wants Samsung to cough up $1bn in patent damages from 2012

    Apple lawyer Bill Lee told jurors this week that their sole objective was to determine what damages the company should collect. Naturally, Apple is arguing the former, while Samsung reckons it should be the latter.
    Fox's 'Gotham' to return for 5th Season

    Fox's 'Gotham' to return for 5th Season

    It probably makes sense to do a time jump, especially considering Bruce Wayne is still a teenager. Gotham now has 86 episodes under its belt, and the season 4 finale will make it 87.
  • Yanny or Laurel? For Trump the question is not so simple

    Yanny or Laurel? For Trump the question is not so simple

    But the White House killed the meme for good when it released a video of staffers dividing into Team Yanny and Team Laurel. Strategic-communications director Mercedes Schlapp says, "Yanny's the victor , Laurel's the loser".
    Tesla Shutting Down Operations for 6 Days to Fix Production Issues

    Tesla Shutting Down Operations for 6 Days to Fix Production Issues

    Tesla said it was "deeply saddened" by the accident and was working with local authorities to establish the cause. It's not the structural design of Tesla cars at issue here, but the reliability of Autopilot.
    Riau Police HQ Attacked by Unidentified Men

    Riau Police HQ Attacked by Unidentified Men

    The group began the assault by ramming a vehicle into the police headquarters in the town of Pekanbaru in Riau province. The church and earlier police station attacks were likely motivated by the arrest of JAD leaders, authorities said.
  • Rapper TI arrested outside his gated community

    Rapper TI arrested outside his gated community

    He ended the short video saying despite it all, he made it to his son's birthday and will "let God deal with the craziness". Rapper T.I.is speaking out following his arrest in Georgia on Wednesday, insisting he was detained over bogus allegations.
    Luxembourg Throws Its Weight behind Iran Nuclear Deal: FM

    Luxembourg Throws Its Weight behind Iran Nuclear Deal: FM

    Europe and Iran have sought a united front to save the nuclear deal that US President Donald Trump abandoned last week. Another French firm that has a lot to lose in Iran is Total.
    Taliban battle into west Afghan city renews crisis

    Taliban battle into west Afghan city renews crisis

    Reporters Without Borders called it the most lethal single attack on the media since the fall of the Taliban . A total of 43 Taliban fighters were killed during the battles in three different districts, he added.
  • Victrex (VCT) Rating Reiterated by Liberum Capital

    Victrex (VCT) Rating Reiterated by Liberum Capital

    Coldstream Capital Mngmt Inc holds 0.07% or 14,037 shares in its portfolio. 74,535 were reported by Pinnacle Assocs Limited. Modwen Properties PLC invests in and develops residential and commercial land properties in the United Kingdom .
    Facebook suspends 200 apps over data misuse

    Facebook suspends 200 apps over data misuse

    MPs have again criticised Facebook for submitting "insufficient" evidence to a parliamentary inquiry about how it handles data. That said, the myPersonality Facebook app did actually scrub your name off before exposing your personal data online .
    Pakistan condemns use of force against Palestinians

    Pakistan condemns use of force against Palestinians

    Thousands of Gaza residents turned out on Tuesday for the funerals of Palestinians killed by Israeli troops a day earlier. . Since the beginning of protests on March 30, more than 100 people have been killed, including 13 children.

Pilot partly expelled from Chinese jetliner after windscreen breaks Pilot partly expelled from Chinese jetliner after windscreen breaks If something abnormal happened where the windshield and a metal part met, it could damage the entire windshield , he said. On May 3, another Southwest Airlines flight made an emergency landing after a cabin window pane cracked in flight .

World Health Organization says Ebola outbreak has spread to DR Congo city World Health Organization  says Ebola outbreak has spread to DR Congo city Commissioner Stylianides has been closely monitoring the situation and has been in contact with the WHO General Director Dr. Ebola is a highly infectious disease spread through contact with even small amounts of bodily fluid of an infected person.

Whistleblower Leaked Michael Cohen's Financials Over Potential Cover-Up Whistleblower Leaked Michael Cohen's Financials Over Potential Cover-Up Trump had previously disputed whether he was aware of the payment by Cohen and whether he reimbursed him. Later that week, the president said the newly hired Mr Giuliani needed time to "get his facts straight".

Meghan Markle's Half-Sister Samantha Grant Suffers Injuries In Car Crash Meghan Markle's Half-Sister Samantha Grant Suffers Injuries In Car Crash Mark , Samantha's boyfriend, told TMZ the pair were driving near a toll booth when they had a "paparazzi confrontation". It is understood the surgery was required after the father experienced a significant amount of damage to his heart.

Boat Accident in Godavari : 35 Missing, 5 Safe Boat Accident in Godavari : 35 Missing, 5 Safe Eight people drowned after their boat capsized late Sunday during a storm in northern Uttar Pradesh state. Divers failed in trying to locate the boat on Tuesday night due to the bad weather and darkness.

Yanny or Laurel? What do you hear? Soundbite leaves netizens confused Yanny or Laurel? What do you hear? Soundbite leaves netizens confused The audio file in question has taken social media by storm, putting countless people at odds over what exactly is being said . But he said it was also more hard to determine the word in this particular recording because it is "not real speech".

Senate Vote Says Net Neutrality Can Stay Around a Little Longer Senate Vote Says Net Neutrality Can Stay Around a Little Longer For almost all of the past 10 years, the FCC has had in place rules that sought to guarantee net-neutrality protections. Schumer suggests the Internet might be "free [] like our highways".

Senate Panel Agrees: Russia Meddled in 2016 Election Senate Panel Agrees: Russia Meddled in 2016 Election The theory is given some credence by testimony from Corey Lewandowski, a top campaign aide, who told House investigators that Mr. Trump was reportedly hoping that the Miss Universe contest could open doors to a major development deal in Moscow .

Appointing Arteta is just what Arsenal needs Video Appointing Arteta is just what Arsenal needs Video Arteta also has received tutelage from a man that many consider the best in the business today by assisting under Guardiola .

Nepal's Kami Rita Sherpa climbs Mt. Everest for 22nd time Nepal's Kami Rita Sherpa climbs Mt. Everest for 22nd time The United States-based climber has repeatedly broken her own record for the most Everest summits by a woman. She first climbed Everest from South Col in 2000 and since has climbed from the North Col eight times.

Teachers in red gather before North Carolina education rally Teachers in red gather before North Carolina education rally So regardless of the party affiliation, what we are seeing from this movement is that citizens love their public schools. The teachers are urging lawmakers to invest more per student in spending until it reaches the national average.

Tributes Pour In For Tom Wolfe Tributes Pour In For Tom Wolfe Wolfe worked as a reporter at the Springfield Union in MA and as the Latin American correspondent for the Washington Post . He later left for Washington, then New York , arriving there in 1962 to work for The New York Herald Tribune .

Someone Keeps Spray-Painting "Fork" Around Windsor Castle Ahead of the Royal Wedding Someone Keeps Spray-Painting He reportedly told TMZ: 'They [doctors] will go in and clear blockage, fix damage and put a stent where it is needed'. Media cameras are expected to follow Markle from her overnight venue to the chapel.

1 killed, 3 injured in explosion at southern California building 1 killed, 3 injured in explosion at southern California building A female of undisclosed age was killed, and three people were injured in the explosion at a medical building, authorities said. The initial call came in about an hour ago, at which point 10 engines and 70 firefighters were dispatched.

Pakistan on damage control mode over Sharif's interview Pakistan on damage control mode over Sharif's interview He further questioned why Mumbai trial wasn't completed while adding that he always spoke the truth and stood by it. On Sunday, the military called an emergency meeting of the National Security Council which reviewed Mr.