Summary:

MbaaS player Stackmob is taking its mobile talents to Paypal. Terms of the deal were not disclosed.

Mobile-Apps-Are-Taking-Over

Paypal is buying StackMob, which fields technology that eases development of mobile applications.  Stackmob, like Parse, now owned by Facebook,  Kinvey and AnyPresence,  offers a  mobile backend as a service or MbaaS.

mobileappsIn May 2011, StackMob  raised $7.5 million from Trinity Ventures, Harrison Metal Capital, and Baseline Ventures, but was reportedly having difficulty raising its next round prompting talk that it was on the block. Yahoo reportedly passed on a deal.

Terms of the buyout were not disclosed and it’ s not really clear what Paypal ownership means to current StackMob customers. But Paypal clearly has its eye on mobile, having acquired Braintree Payment Solutions, which specialized in mobile commerce, for $800 million in September.

All 18 StackMob employees will join PayPal and move from San Francisco to PayPal’s San Jose headquarters.

According to the Paypal blog post from CTO John Barrese:

While projects underway at PayPal have already accelerated our ability to deliver great products to our customers, we believe that with the addition of the talented team from StackMob, we’ll move even faster in creating, testing and deploying products that aim to transform payments for customers around the world.

In the same post, StackMob CEO Ty Amell said Stackmob will

“maintain its focus on developers and extending innovative mobile technologies that aim to allow consumers to access the rich capabilities of the PayPal global network. We believe that our work at PayPal will make it easier for developers to create seamless payment solutions that span online, mobile, and in-store experiences.”

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