WSJ: Google Readying PayPal Competitor
By Richard Koman - June 17, 2005
The Wall Street Journal is reporting that Google is getting ready to launch an electronic payment system to go head to head with eBay's PayPal. "It could be a pretty big negative for eBay if it happens," Piper Jaffray analyst Safa Rashtchy, who follows Google and eBay, said. The AP story notes:
Expanding into online payments might make Google less dependent on advertising, which accounted for nearly all of its first-quarter revenue of $1.26 billion. The merchants who run auctions on eBay are major buyers of Google's ads, which appear alongside search results.
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Comments (1)
Should be an interesting play. Makes me think fondly of all the various wallet companies in the past, that were likely too early to market.
Posted: June 17, 2005 11:10 PM