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PayPal market cap bigger than eBay after split

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Posted at 3:18 PM, Jul 20, 2015
and last updated 2015-07-20 15:18:34-04

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.

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