The Strategist

Paypal to go public in 2015 third quarter

05/17/2015 - 03:15

Paypal to go public in 2015 third quarter
US-based online payment service company Paypal plans to go public once more.
The company had been on the stock market when it has its IPO in 2002. But soon it was bought by Ebay which made Paypal a fully-owned subsidiary. Ever since Ebay and Paypal parted ways in Spetember last year, the subject of a fresh IPO was doing rounds in the investor world. Now, Paypal has formally announced that the public trading on NASDAQ will happen in the third quarter of 2015. 
Commenting on the IPO, PayPal President and CEO designee Dan Schulman said: “I’m honored and thrilled that PayPal is returning to its roots as an independent company. In the second half of 2015 we’ll once again be publicly traded on NASDAQ with our original stock ticker symbol PYPL. This is a meaningful symbol for the company because it represents our unbroken commitment to the spirit of the original vision that sparked the launch of PayPal 17 years ago.”
He also noted that the company plans to build on its consumer base of 165 million subscribers across 200 countries. “We’ll deliver capabilities, services, and platforms that are technology and payment agnostic, so that our solutions work the way our customers want and need them to,” he added.
The companies also announced the new set of directors on board eBay as well as Paypal. For eBay, the new set will include Fred Anderson, Edward Barnholt, Anthony Bates, Bonnie Hammer, Kathleen Mitic, Pierre Omidyar who also founded eBay as a sole proprietorship in September 1995), Bob Swan who is the current eBay CFO, Perry Traquina and Devin Wenig who is the president and CEO-designee of eBay.
The full board of PayPal was also announced yesterday, which will include Donahoe as the Chairman of PayPal’s Board. The rest of the PayPal board will include Jonathan Christodoro who is an eBay director since March 2015, Scott Cook, David Dorman, Gail McGovern, David Moffett, Omidyar, Schulman and Frank Yeary.