Tag Archives: PayPal
PayPal Mobile VP David Marcus Promoted To President
Former PayPal president Scott Thompson has left the company to become the CEO of Yahoo! This left an empty spot for eBay to fill at PayPal. That spot has been filled by David Marcus, the former CEO of Zong and the former PayPal Mobile VP. PayPal acquired Zong for $240 million.
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Categories David Marcus, eBay, John Donahoe, PayPal, Scott Thompson, Zong
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PayPal Announces Square Competitor “PayPal Here”
PayPal has announced a service that acts as a digital wallet system for consumers. PayPal president and CEO John Donahoe announced the dongle that can be used for accepting credit cards. This service competes directly against Square. The service is called “PayPal Here.” The credit card reader appears to be a blue triangle that snaps on top of the iPhone through a headphone jack. The device has a wing on a hinge to remain stable on top of the phone.
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Categories John Donahoe, PayPal
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PayPal Has The Buyer Destroy A Violin To Get A Refund
Regretsy reader Erica reported a complaint about how she recently sold an old French violin to a Canadian buyer. The buyer disputed the authenticity of the label so PayPal required him to destroy the violin and send over photographic evidence of it. This is part of PayPal’s dispute resolution statement. Even though the label may not have been correct, the actual violin was pre-dated from World War II and it was authenticated by an experienced luthier that was valued at $2,500. Erica said that PayPal “100% defended their action and gave me the party line.” [Regretsy via Laughing Squid]
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Yahoo! Hires Scott Thompson As CEO
Yahoo! Inc. has hired Scott Thompson as Chief Executive Officer, effective on January 9, 2012. Tim Morse will return to his duties as Chief Financial Officer, who was serving as the interim CEO when Carol Bartz was fired. Thompson has also joined Yahoo!’s board of directors. Thompson served most recently as the President of eBay subsidiary PayPal.
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Categories Carol Bartz, PayPal, Scott Thompson, Tim Morse, Yahoo!
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Louis CK Makes About $1 Million In 12 Days From Torrent Video
Earlier this month comedian Louis C.K. released a torrent video of his “Live at the Beacon Theater” for the $5 DRM-free download. Either you can visit his website and pay $5 or you can pirate it yourself. Louis C.K. fans are showing their support by paying for it as there is now $1 million in his PayPal account. It only took about 12 days to hit that number. C.K. is paying $250,000 in costs for the website, $250,000 to his staff as a bonus, and $280,000 will be given to charities such as Kiva, Charity:Water, Green Chimneys, The Pablove Foundation, and The Fistula Foundation. [TechDirt]
Categories Louis CK, PayPal
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PayPal To Launch Daily Deals Service Next Year
eBay Inc. (NASDAQ:EBAY) subsidiary PayPal is going to start competing head-on with Groupon and LivingSocial by offering daily deals starting next year. The coupons will be based on the buying habits and mobile locations of their users. PayPal has partnered with 200 U.S. merchants on this initiative said PayPal President Scott Thompson.
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Categories eBay, PayPal, Scott Thompson
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PayPal Backtracks On Regretsy’s Donation Actions
Regretsy is a blog that makes fun of products and sellers on e-commerce website Etsy.com. However Regretsy recently decided to start collecting donations to give to poor children for the holidays. It turns out that PayPal forced them to refund donations because they used a button widget that was supposed to be used for nonprofits. Now PayPal is backtracking on this request in the midst of all the bad publicity.
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Categories Anuj Nayar, PayPal, Regretsy
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PayPal Co-Founder Peter Thiel Invests $1.25 Million To Create Floating Micro-Countries
PayPal co-founder Peter Thiel is putting some of his wealth into an interesting cause. He has put $1.25 million in to create and promote floating micro-countries. Thiel made the investment through The Seasteading Institute.
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Categories PayPal, Peter Thiel, The Seasteading Institute
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Kabbage Raises $17 Million
Kabbage, an online merchant lending startup, has raised $17 million in new funding. The investors include Mohr Davidow Ventures, BlueRun Ventures, David Bonderman, Warren Stephens, the UPS Strategic Enterprise Fund, Jim McKelvey and others. Kabbage lends money to online merchants using PayPal’s Adaptive Payments API. [TechCrunch]
Apple Accidentally Charges Customer 122 Times For Lion OS
John Christman went to upgrade to the Lion operating system on July 23. He thought he only had to pay $31.79 after the sales tax, but PayPal ended up charging him 121 extra times for a total cost of $3,878.40. D’oh!
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Categories Apple iCloud, Apple Inc., John Christman, PayPal
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