Forbes – 12/17/13: PayPal has confirmed that it has purchased San Francisco-based app developer StackMob. PayPal’s spokeswoman wouldn’t comment on terms of the deal but did say that 18 of StackMob’s engineers will be relocating to PayPal’s headquarters in San Jose. PayPal has been a cash-machine for parent company Ebay EBAY -1% (it accounted for 42% of Ebay’s revenue last quarter), but in recent years Paypal has earned a reputation as bloated, complacent  company with bad customer service and archaic software that was a nightmare for outside developers to work with. New PayPal CEO David is trying to change all that. Since taking over in March of 2012,  he’s reorganized the guts of the company, making the platform more flexible and developer friendly. In the meantime he’s  been on a talent shopping spree–most notably this fall when he dropped $800 million Braintree, a mobile payments company with an API that developers loved.
Click here to read more: http://www.forbes.com/sites/stevenbertoni/2013/12/17/paypal-buys-stackmob-to-continue-mobile-payment-push/

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