A message to all drivers taking CC payments using PayPal.... did you know you are actually funding a $500m investment in Uber?
Will you carry on being Turkeys voting for Christmas, or will you switch to a new CC payment provider?
This article below has been posted online by Reuter’s news agency 26 April 2019.
Online payments company PayPal Holdings Inc plans to invest $500 million in Uber Technologies Inc as the ride-hailing firm readies to unveil terms for its initial public offering on Friday, Refinitiv IFR reported.
PayPal will invest in Uber through a concurrent private placement at the IPO price, IFR reported on Thursday, citing sources.
A financial services component is important to Uber as it works to expand into a "superapp" of logistics and transportation services.
Superapps are applications where customers go for a range of services, such as transportation, shopping and payments. Such companies can be much more lucrative than those that offer just one core business or service.
Uber is expected to tell investors it will seek to be valued at between $80 billion and $90 billion, according to people familiar with the matter.
The valuation sought is less than the $120 billion valuation that investment bankers told Uber last year it could fetch, and closer to the $76 billion valuation it attained in its last private fundraising round last year.
Uber and PayPal were not immediately available to comment on the IFR report.
TAXI LEAKS EXTRA BIT : The iZettle Connection
Let’s also not forget that PayPal bought iZettle last year for a reported $2.2bn. So this also means that drivers using the iZettle system to clear CC transactions will be helping to fund Uber’s IPO
Will drivers change there CC provider.... or will they stay with these two, because they’re cheap... like Uber ?
A few alternative providers
CMT UK LTD11 VISION PARK, KENDAL AVENUE,LONDON, W3 0AF 0207 183 1894
CABVISION 24/7 UK Phone Support for Drivers and Passengers
171 Lukin Street
London E1 0BN. 0207 655 6970
SUM UP Contact us: 020 3510 0160
Opening Times: Monday-Friday: 8 AM - 7 PM / Saturday: 8 AM - 5 PM
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