PayPal is acquiring StackMob
StackMob is a mobile backend service provider that is being acquired by PayPal. StackMob offers a way to build, deploy, and grow mobile applications. According to TechCrunch, StackMob raised $7.5 million in Series A funding, but was unable to raise a Series B round. This is why the acquisition discussions began. eBay confirmed the acquisition and reported that the StackMob team will join PayPal.
“We believe that with the addition of the talented team from StackMob, we’ll move even faster in creating, testing and deploying products that aim to transform payments for customers around the world,” stated PayPal CTO James Barrese.
StackMob offered tools to developers for building scalable mobile applications. The company offered support for custom code, HTML5 hosting, push notifications, location-based services, API metrics, etc.
“By joining PayPal, the StackMob team will maintain its focus on developers and extending innovative mobile technologies that aim to allow consumers to access the rich capabilities of the PayPal global network,” added StackMob CEO Ty Amell. “We believe that our work at PayPal will make it easier for developers to create seamless payment solutions that span online, mobile, and in-store experiences.”