EBay Inc. is repurchasing Wells Fargo's equity stake in Billpoint, the
auction giant's person-to-person payment subsidiary, for $43.5 million.
However, Wells Fargo will continue to support eBay Payments
by Billpoint through its payment processing and risk management services.
San Jose, Calif.-based eBay and Wells Fargo formed a
strategic relationship in March 2000 to provide eBay's buyers and sellers
with an integrated online payment service. At the time, Wells Fargo acquired
a 35 percent equity stake in Billpoint.
Nearly a quarter of all eBay listings currently offer Billpoint as a payment
option. PayPal, which went public last week, also is
widely used. Billpoint was founded in October of 1998 and was purchased by
eBay in May 1999.
"The increased integration of Billpoint and eBay over time makes this stock
repurchase very attractive for both Wells Fargo and eBay," said Janet Crane,
CEO of Billpoint.
The Paypal Wars: Battles with Ebay, the Media, the Mafia, and the - Google Books Result::
href=http://books.google.com/books?id=Jtr3ThHeTEMC&pg=PA80&lpg=PA80&dq=eBay+Buys+Back+Billpoint+Equity&source=web&ots=slcexbiAVA&sig=AnqDZK9j8Dy-MCwKVsF4fgEejn0&hl=en&sa=X&oi=book_result&resnum=5&ct=result class=l onmousedown=return clk(this.href,,,res,8,)>The Paypal Wars: Battles with Ebay, the Media, the Mafia, and the - Google Books Resultby Eric M. Jackson - 2005 - Business & Economics - 344 pagesIn fact, Billpoint was not even eBay's first choice of credit card processing companies; eBay had entered into negotiations to buy a startup named Accept,
http://books.google.com/books?id=Jtr3ThHeTEMC&pg=PA80&lpg=PA80&dq=eBay+Buys+Back+Billpoint+Equity&source=web&ots=slcexbiAVA&sig=AnqDZK9j8Dy-MCwKVsF4fgEejn0&hl=en&sa=X&oi=book_result&resnum=5&ct=resultHOME |
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eBay Buys Back Billpoint Equity