Dive Summary:

• Online marketplace eBay has finalized its takeover agreement with global payment platform startup, Braintree.
• Venmo, Braintree’s mobile app, is also part of the acquisition worth a reported $800 million in total cash.
• Braintree will now operate as its own individual company within eBay’s PayPal payment service under current Braintree CEO, Bill Ready.

Dive Insight:

Braintree’s mobile app, Venmo, “gives people an easy way to pay each other using their mobile devices and leveraging social networks” will also remain as a separate service operating under PayPal. Braintree has become the top payment platform of choice among users of Airbnb, OpenTable, HotelTonight and Uber mobile apps.