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Paypal Inc

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.
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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
February 16, 2002 | JOSH FRIEDMAN, TIMES STAFF WRITER
PayPal Inc. shares surged 55% on Friday as the online payment provider became the first Internet company to go public in almost a year and notched the strongest trading debut in nine months. Analysts warned, however, that the overall market for initial public offerings remains "anemic." They said fast-growing PayPal, a favorite of EBay Inc.'s auction Web site users, faces a cloudy future because of legal and regulatory questions.
BUSINESS
February 12, 2002 | From Associated Press
PayPal Inc. warned Monday that its popular online payment service is about to be shut down in Louisiana by banking regulators, casting another cloud over the firm's planned initial public stock offering. PayPal had hoped to sell 5.4 million shares at $12 to $14 apiece last week, but a patent infringement lawsuit filed by CertCo Inc. threatened to short-circuit the company's service. That prompted PayPal to delay the IPO until this week.
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