Ebay Cashes in Now on Bill Me Later
eBay, conceding its struggle to build out the Pay Later online credit service, forked over $945 million in cash and options to buy Bill Me Later and incorporate the service into its PayPal unit. Bill Me Later brings along a host of mega e-tailer clients who hosted the service on their checkout pages. It also makes for strange bedfellows: Amazon was an equity investor in Bill Me Later (no board seat, though), and was its top client. Amazon previously ditched PayPal after its eBay takeover.