Payments company PayPal is inching closer to spinning off from its marketplace parent eBay. Today its designated CEO, Dan Schulman, announced that it plans to list on Nasdaq and use PYPL as its ticker — the original ticker it used before eBay acquired it in 2002.
The company plans to spin off eBay in the second half of this year. To date, some 18 billion transactions and over $1 trillion in payments have passed through its platform, and it now has 165 million consumers in 200 countries.
While PayPal blazed a trail for online payments when it first launched in 1998, today the company faces a lot of competition, from traditional payment providers like banks and credit companies through to other large new entrants like Apple and newer startups like Stripe. Unsurprisingly, Schulman is therefore highlighting his company’s legacy in the space.
“This is a meaningful symbol for the company because it represents our…
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