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PayPal will take a $ 500 million stake in Uber as part of its upcoming IPO.
In a brief statement on LinkedIn, PayPal CEO and President Dan Schulman said that this investment would be used to expand the company's existing partnership with Uber in the United States and Australia to other global and global markets. to "explore future collaborations in commercial payments, including the development of Uber's digital portfolio solutions."
After being removed from eBay's main partnership last year, PayPal has invested heavily in other high-growth markets and platforms, including MercadoLibre in Latin America, with a view to becoming the world's largest and fastest growing platform. Preferred supplier of commercial transactions.
Schulman says: "This is another milestone in our journey as a partner of choice for the platform as it helps facilitate global commerce by connecting the world's leading payment markets and networks."
The details of the closer relationship between Uber and PayPal are rare, but it is reasonable to assume that the collaborative effort will allow Uber to extend its payment capabilities beyond a parallel market, a bit like his counterpart in Southeast Asia, Grab, with his financial unit GrabPay. . It is thought that PayPal is discussing with Grab a similar similar investment that would reflect his interest in Uber.
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