PayPal announced today it has acquired mobile platform developer StackMob.
In a recent blog post, PayPal CTO James Barrese released the news of StackMob joining the PayPal team. StackMob’s team will be leaving their San Francisco based offices, to join PayPal at their headquarters in San Jose.
StackMob has created a Backend-as-a-service platform for mobile developers. The service they provide allows for developers to create APIs and manage mobile infrastructures. Stackmob was established in 2010 and provides services to companies like Tencent, Adobe, Verizon Wireless, Citi Bank, and Atari among others.
What Lies Ahead for a British Fintech Industry Outside the EUGo to article >>
PayPal is taking mobile payments seriously lately. PayPal, while being one of the largest payment service providers on a global scale, has been criticized for their cumbersome mobile capabilities. To strengthen their mobile presence, PayPal has been acquiring leading Mcommerce platforms like BrainTree, and has recently updated their SDK to allow for in-app integration.
“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. 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.” StackMob CEO Ty Amell added.
No details were given by PayPal or StackMob in regards to pricing and the future of the company. Due to the StackMob team relocating to PayPal’s headquarters in San Jose, we are guessing the company will be absorbed into PayPal, and will shut down the StackMob name, similar to Lemon Wallet and LifeLock.