posted on July 9, 2002 08:36:22 PM new
FROM THE eBAY ANNOUNCMENT BOARD:
HAVE YOU SEEN THIS!!!
From the eBay Announcment Board:
***eBay Agrees to Acquire PayPal***
A couple of weeks ago at eBay Live, I promised you that I would continue to listen to your input as we grow the eBay marketplace. So today, I am excited to announce our plans to acquire PayPal, Inc., the most popular online payment service.
Since many of our members offer PayPal's services, this acquisition makes a tremendous amount of sense. Integrating PayPal's services into our platform is something that many of our members have asked us to do. We believe it will enhance our members' experience by allowing buyers and sellers to trade with greater ease, speed and safety.
We expect the acquisition to be finalized around year-end 2002. Until then, PayPal and eBay Payments (Billpoint) services will continue to function as independent providers of online payment services. When the acquisition is finalized, we plan to phase out eBay Payments (Billpoint) as we integrate the PayPal service. We will provide more detailed information about the eventual integration of PayPal in the weeks and months ahead.
We look forward to working with eBay Payments (Billpoint) users to ensure a seamless transition to PayPal, and with PayPal's users as we integrate PayPal into our site.
For more details, please see the press release and our Frequently Asked Questions page. Look for the webcast of our conference call at http://www.shareholder.com/ebay/.
Regards,
Meg
Investors and security holders are urged to read the proxy statement/prospectus regarding the business combination transactions referenced in this presentation, when they become available, because they will contain important information. The proxy statement/prospectus will be filed with the Securities and Exchange Commission by eBay. Investors and security holders may obtain a free copy of the proxy statement/prospectus, when available, and other documents filed by eBay and PayPal with the Commission at the Commission's web site at http://www.sec.gov. Free copies of the proxy statement/prospectus and eBay's other filings with the Commission may also be obtained by directing a request to eBay at [email protected]. Free copies of PayPal's filings may be obtained by directing a request to PayPal at [email protected].
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I am not sure as yet how I feel about this - except not happy!
