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Wednesday, January 22, 2014

PayPal challenger Stripe valued at $1.75 billion in funding deal, (NASDAQ: EBAY)

Stripe Inc has joined the billion-dollar club. The online payment-processing startup announced Wednesday it raised $80 million from venture capital investors in a deal that values Stripe at a hefty $1.75 billion.The transaction places the 90-person firm in the rarefied company of startups valued at more than $1 billion just three years after brothers Patrick and John Collison, now ages 25 and 23, debuted their service.Chief Executive Patrick Collison said the lofty valuation reflected the promise shown by his company, which processed billions of dollars in payments last year for businesses ranging from Lyft, the ridesharing company, to the Museum of Modern Art in New York. The company did not disclose specific details on the total.The startup's rapid growth has spurred talk in Silicon Valley of an insurgent threat to PayPal Inc, the eBay Inc subsidiary that has not faced serious competition in a decade.

eBay Inc. is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI. Shares of EBAY traded higher by 0.48% or $0.26/share to $54.41. In the past year, the shares have traded as low as $48.06 and as high as $58.04. On average, 13291100 shares of EBAY exchange hands on a given day and today's volume is recorded at 36155016.