PayPal posted better-than-expected results, but news that eBay is abandoning the company in favor of a smaller European competitor caused the stock to fall. Bill Ready, COO of PayPal, joined us to explain why he thinks investors are misunderstanding the news.
Ready says PayPal will retain a majority of eBay’s volume with the deal it did for PayPal branded checkout. He also said the primary part of PayPal's business was actually expanded with eBay. Ready added that investors may be getting it wrong because this kind of news takes time to digest.
EBay explained that its decision to integrate Adyen's payment processor would result in lower costs and more control for its merchants. Ready responded by highlighting all the long-term partnerships the company has with Airbnb, Facebook, Google, Apple, and Uber.
Venmo has been a solid source of growth for PayPal, processing $10.4 billion in payments in just the fourth quarter. Ready said that now more than 2 million retailers are able to accept payments from Venmo. Many people have said Apple Pay Cash is going to be a Venmo-killer. Ready said the rush of competitors into the digital payments space hasn't stopped Venmo's business from accelerating.
Buzzfeed is launching its AI-powered content generation feature called Infinity Quizzes in partnership with OpenAI.
Airbnb topped estimates in the latest quarter and reported its first profitable year. The company also gave a favorable first-quarter outlook, citing strong travel demand.
Mark Walker, co-founder and CEO, Direct Digital Holdings & Keith Smith, co-founder and President, Direct Digital Holdings, join Cheddar News to discuss the meaning behind launching just the ninth black-owned company to ever go public in the U.S., how Black History has impacted their careers, and how they plan to grow the company.
Lorenzo Esparza, CEO of investment firm Manhattan West, joined Cheddar News after a mixed day on the trading floor after the release of CPI data and his thoughts on what lies ahead with inflation.
Tesla is changing prices for some of its electric vehicles for the fourth time this year.
Emily Irwin, managing director of advice & planning for Wells Fargo’s wealth & investment management arm, joined Cheddar News to discuss financial red flags when finding a partner.
Shai Eisenman, founder and CEO at Bubble Skincare, joined Cheddar News to discuss the company's product line geared for younger skin and how it's expanded its footprint with some big-name retailers.
Boeing saw lower order numbers and deliveries last month.
Ford paused production and deliveries on its F-150 electric pickup due to a possible battery issue and also announced it planned to cut jobs in Europe.
Inflation climbed to 6.4% in January year-over-year, sending stocks to fall in Tuesday's session.
