Paypal valued at almost $50bn after Nasdaq relisting

  • PayPal, the online payment firm, has been valued at close to $50 billion after it split from its parent company and relisted on Nasdaq. The formal separation from online retailer eBay happened on Friday, ten months after the move was made public.

    Paypal’s revenue increased by 16% in the second quarter, which was much more than eBay’s 7% rise in the same period. Dan Schulman, Paypal's chief executive, said its new identity as an independent firm was a “tremendous opportunity”.

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