- Sources tell the WSJ PayPal (EBAY) is close to buying rival online payments platform Braintree. TechCrunch reported earlier this month Braintree was "shopping itself around," and had talked with PayPal and others.
- TechCrunch reported at the time Braintree was asking for $1B, a figure it considered "unrealistic."
- Though Braintree's $10B/year transaction run rate is much smaller than PayPal, the company has been growing quickly and claims big-name clients such as Uber, Fab, Rovio, LivingSocial, and Airbnb.
- Braintree also owns a popular mobile payments platform in the form of Venmo. Venmo's iOS/Android apps try to differentiate themselves through a focus on social sharing.
WSJ: PayPal close to buying Braintree
Sep 23 2013, 09:14 ET