PayPal consents to invest $500M in Uber as it extends collaboration


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PayPal is extending its collaboration with Uber to the tune of $500 million.

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PayPal on Friday exposed that it’ll pump $500 million into Uber as it extends a collaboration the business have actually preserved because 2013.

As part of the extension, the online payment business will check out establishing the ride-hailing service‘s digital wallet.

PayPal manager Dan Schulman pointed out that handle a LinkedIn post early Friday.

“This is another significant milestone on our journey to be a platform partner of choice, helping to enable global commerce by connecting the world’s leading marketplaces and payment networks,” he composed.

Uber didn’t right away react to ask for talk about the PayPal statement.

Earlier this month, the business’s self-driving tech group got a $1 billion financial investment led by Toyota and it openly submitted with the United States Securities and Exchange Commission for a prospective $120 billion going public. On Friday, it set an IPO cost variety of $44 to $50 a share.

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