PayPal Is Worth $50 Billion Following Its Split From eBay

PayPal, the payment company that eBay acquired in July 2002 for $1.5 billion, after 13 years of staying in the contract, has now split from its parent company. There was speculation that PayPal would be worth a bit more following the split but the actual increase in the company’s valuation came as a shock to most.

On its first day of trading, shares opened at $41.63, 8.3 percent above Friday’s last temporary closing price before its public introduction.

The company is now worth 33...

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