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BUSINESS
August 21, 2002 | Bloomberg News
EBay Inc.'s $1.5-billion purchase of online payment service PayPal Inc. was cleared by antitrust regulators, eliminating a potential barrier to the transaction. The Justice Department ended its review without asking for more information, said EBay, the largest Internet auctioneer. On Nasdaq, shares of Mountain View, Calif.-based PayPal rose $2.10, or 10%, to $23.10 and EBay fell $1.45 to $60.41. PayPal's competitors include a smaller service operated by EBay.
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BUSINESS
June 2, 2007 | From Times Wire Services
Online payment service PayPal was inaccessible to users for three hours Friday morning because of technical problems, company officials said. The website was not functioning properly from 9 a.m. to noon because of problems with its database, PayPal spokeswoman Amanda Pires said. No private data was compromised, said Pires, who called the service interruption "very rare" and "inconvenient." The company is investigating the issue, she said.
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BUSINESS
November 7, 2006 | From Bloomberg News
PayPal, EBay Inc.'s online payment services division, said it would offer as much as $100 million in holiday rebates and free shipping to fend off competition from Google Inc. Consumers will receive as much as $20 in cash-back rebates from PayPal when they make online purchases on EBay and certain merchant websites in North America, San Jose-based PayPal said in announcing the biggest promotion in its eight-year history. The rebates are to run from Nov. 23 to May 15.
BUSINESS
November 9, 2006 | From Bloomberg News
Google Inc. said Wednesday that it would offer merchants free online payment services until Dec. 31, ratcheting up competition with EBay Inc. Businesses using Google Checkout will receive free processing for all sales, the Mountain View, Calif.-based company said. PayPal, EBay's online payment services division, said this week that it would offer as much as $100 million in holiday rebates and free shipping.
BUSINESS
April 8, 2005 | Mark Harrington, Newsday
Eleven customers have filed a suit against online auctioneer EBay Inc. and its pay-system affiliate, PayPal Inc., alleging they schemed with an electronics merchant to encourage use of the payment system but frequently denied refunds when products weren't delivered as promised.
BUSINESS
July 9, 2002 | From Reuters
PayPal Inc. is taking tech investors on a trip down memory lane. By accepting a $1.5-billion takeover offer from EBay Inc. on Monday, just five months after going public, PayPal is living the Silicon Valley dream that went bust for most Internet-related firms in 2000. PayPal priced its initial public offering at $13 a share in February. At Monday's closing price of $21.61 on Nasdaq, up $1.61 for the day, the stock is up 66% from the IPO.
BUSINESS
July 9, 2002 | DAVID COLKER, TIMES STAFF WRITER
EBay Inc. widened its rule over the Internet auction world Monday with an agreement to acquire online payment service PayPal Inc. in a $1.5-billion stock swap reminiscent of the headiest days of the dot-com boom. EBay Chief Executive Meg Whitman said the deal was expected to close by the end of the year. The deal would give PayPal stockholders 0.39 share of EBay stock for every PayPal share, valuing PayPal at $21.93 a share at Monday's closing prices.
BUSINESS
June 18, 2005 | From Associated Press
Online search-engine leader Google Inc. is preparing to introduce an electronic payment system later this year in a move that would pose a financial threat to one of its biggest advertisers, Internet auctioneer EBay Inc. The Wall Street Journal reported Google's plans on its website late Friday, citing sources familiar with the Mountain View, Calif.-based company's plans. The Journal did not provide any details about Google's strategy. A Google spokesman declined to comment on the report.
BUSINESS
June 22, 2005 | From Associated Press
Google Inc.'s chief executive Tuesday denied reports that the online search engine leader was gearing up to compete directly with EBay Inc.'s pioneering PayPal service, but acknowledged some kind of electronic payment product was in the works. Eric Schmidt did not give details about the project but said it wouldn't trespass on PayPal's turf. "We do not intend to offer a person-to-person, stored-value payments system," Schmidt said.
BUSINESS
April 7, 2006 | From the Associated Press
Customers of the PayPal online payment service can now use their cellphones to instantly send money, buy items or donate to charities. Viacom Inc.'s MTV, the National Basketball Assn. and News Corp.'s 20th Century Fox Home Entertainment Inc. are among those already accepting PayPal Mobile service for payment, San Jose-based PayPal said. PayPal Mobile allows users in the U.S. and Canada to instantly transmit money by sending text messages.
BUSINESS
November 7, 2006 | From Bloomberg News
PayPal, EBay Inc.'s online payment services division, said it would offer as much as $100 million in holiday rebates and free shipping to fend off competition from Google Inc. Consumers will receive as much as $20 in cash-back rebates from PayPal when they make online purchases on EBay and certain merchant websites in North America, San Jose-based PayPal said in announcing the biggest promotion in its eight-year history. The rebates are to run from Nov. 23 to May 15.
BUSINESS
July 14, 2006
PayPal, the online payments unit of San Jose-based EBay Inc., said the company planned to open an engineering center in Arizona by November that would employ more than 400 people in three years.
BUSINESS
April 7, 2006 | From the Associated Press
Customers of the PayPal online payment service can now use their cellphones to instantly send money, buy items or donate to charities. Viacom Inc.'s MTV, the National Basketball Assn. and News Corp.'s 20th Century Fox Home Entertainment Inc. are among those already accepting PayPal Mobile service for payment, San Jose-based PayPal said. PayPal Mobile allows users in the U.S. and Canada to instantly transmit money by sending text messages.
BUSINESS
March 23, 2006 | From the Associated Press
PayPal, the online payment service owned by Internet auction company EBay Inc., has begun testing a new offering to allow people to make and receive payments using cellphones and other mobile devices. PayPal Mobile is being tested by EBay employees and will be available to the public in the U.S., Canada and Britain in the next few weeks, EBay spokeswoman Amanda Pires said.
BUSINESS
June 22, 2005 | From Associated Press
Google Inc.'s chief executive Tuesday denied reports that the online search engine leader was gearing up to compete directly with EBay Inc.'s pioneering PayPal service, but acknowledged some kind of electronic payment product was in the works. Eric Schmidt did not give details about the project but said it wouldn't trespass on PayPal's turf. "We do not intend to offer a person-to-person, stored-value payments system," Schmidt said.
BUSINESS
June 18, 2005 | From Associated Press
Online search-engine leader Google Inc. is preparing to introduce an electronic payment system later this year in a move that would pose a financial threat to one of its biggest advertisers, Internet auctioneer EBay Inc. The Wall Street Journal reported Google's plans on its website late Friday, citing sources familiar with the Mountain View, Calif.-based company's plans. The Journal did not provide any details about Google's strategy. A Google spokesman declined to comment on the report.
BUSINESS
July 14, 2006
PayPal, the online payments unit of San Jose-based EBay Inc., said the company planned to open an engineering center in Arizona by November that would employ more than 400 people in three years.
BUSINESS
March 16, 2004 | From Bloomberg News
PayPal, the e-mail payment service owned by EBay Inc., said users may receive fraudulent e-mails after the company discovered that hackers took customer names and e-mail addresses from its website. The hackers probably used deceptive e-mails to trick merchants that sell products on EBay into giving them their PayPal passwords, EBay said. Hackers used the passwords to gain access to Mountain View, Calif.-based PayPal's website and look at nonfinancial information about customers.
BUSINESS
April 8, 2005 | Mark Harrington, Newsday
Eleven customers have filed a suit against online auctioneer EBay Inc. and its pay-system affiliate, PayPal Inc., alleging they schemed with an electronics merchant to encourage use of the payment system but frequently denied refunds when products weren't delivered as promised.
BUSINESS
June 29, 2004 | From Bloomberg News
EBay Inc., the world's largest Internet auction company, plans to expand its PayPal payment service to the rest of the company's international markets, Chief Executive Meg Whitman said Monday. "The long-term vision is to have PayPal follow the EBay footprint around the world," Whitman said. PayPal lets people close transactions on EBay faster through electronic accounts from which payments can be made or received. EBay bought PayPal for $1.
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