People now can have their money in PayPal in a different format.
The company completed its spinoff from eBay and returned as a publicly traded company after being under the eBay umbrella since 2002. EBay bought PayPal in 2002 for $1.5 billion.
Share prices opened at $41.46 under the company's new ticker symbol PYPL. With the spinoff, PayPal debuted with a greater market value than eBay — about $46.6 billion compared to eBay's $34 billion.
In the second quarter, PayPal had 169 million users and 1.1 billion transactions, according to Bloomberg Business.
Find out more about why the company split with this Newsy video.
