WSJ: Google Readying PayPal Competitor

By Richard Koman - June 17, 2005

Google-change.jpgThe 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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By Richard Koman - June 17, 2005 | Permalink | Comment | Category: Google [GOOG]
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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.


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