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eBay says it is buying Braintree for $800 million

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eBay(s EBAY) is buying Braintree, a Chicago-based payment platform for approximately $800 million in cash, the company announced this morning. “Braintree is a perfect fit with PayPal,” said eBay CEO John Donahoe. Braintree, started in 2007 is used by companies such as Airbnb and Uber for accepting payments and is said to be processing a total of $12 billion in payments annually. Founded in 2007, it has raised $69 million in outside funding from Accel Partners, NEA, RRE Ventures and Greycroft Partners. Techcrunch had originally reported on the talks between Paypal and Braintree.

2 Responses to “eBay says it is buying Braintree for $800 million”

  1. We’re with Braintree but are considering Stripe because they appear to have a better management UI and develop features a lot faster.

    The concern is PayPal has a very bad reputation for customer service. I’d like to believe what Braintree say about nothing changing since they have had excellent customer service to date, but who knows what PayPal has in mind and what that might change in the future.

    Customer service being core often comes from the founders and I wonder if they’ll stick around after their earn out period.