PayPal Valued at $50.8 Billion Following Ebay Split

PayPal (NASDAQ:PYPL) shares are trading at $41.63 after the company’s split from parent company eBay, putting the company’s valuation at $50.8 billion, TechCrunch reported.
As quoted in the publication:

With shares trading at $41.63, it values the company at $50.8 billion, above eBay’s current intraday valuation of $34.5 billion. PayPal shares are now trading at $40.21 minutes after NASDAQ’s opening bell. Shares are still up 4.74 percent even with this small market correction.
As a reminder, shortly after PayPal’s first IPO, the company was acquired by eBay in July 2002 for $1.5 billion. The same company is now worth 33 times its last public valuation. Until now, PayPal has managed more than 18 billion transactions and over $1 trillion. It now has 165 million consumers in 200 countries.
In other words, PayPal is no longer the shiny new fintech startup. It’s a full-fledged finance heavyweight, ready to report quarterly earnings again. It faces competition from local giants, such as Alibaba’s Alipay, and newcomers, such as Stripe.

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