PayPal Acquires Mobile App Platform Developers StackMob
PayPal has acquired mobile application development firm StackMob. The company’s engineers will join the PayPal team.
The StackMob team has roots coming from JBoss/Red Hat, NexTag, Zynga, Cisco and Salesforce. The company has been backed by Trinity Ventures, Harrison Metal, Baseline Ventures, Founder Collective and Charles River Ventures.
“StackMob is best known for its outstanding work in developing a platform that lets developers and companies easily create and manage mobile applications,” says PayPal CTO James Barrese. “We are thrilled to have the StackMob team put those same skills and expertise toward enhancing PayPal’s technology stack.”
“While projects underway at PayPal have already accelerated our ability to deliver great products to our customers, 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,” he adds.
StackMob co-founder and CEO Ty Amell had this to say on the company’s blog:
Our goal at StackMob has always been to enable developers to build, deploy, and grow their mobile applications, and we’ve learned a lot from you – our customers. One challenge, however, remained constant over time: monetization and payments.
By joining the PayPal team, we endeavor to maintain our focus on developers through PayPal and extend innovative mobile technologies that will let you access the rich capabilities of the PayPal global network. We believe our work at PayPal will make it easier for you to create seamless payment solutions that span online, mobile, and in-store experiences.
StackMob’s existing partners include Adobe, Land O Lakes, AT&T, Atari, Verizon Wireless, Braintree, box, SAP, Rackspace, New Relic and Urban Outfitters, among others.
The company says it will have more details about the future of the StackMob platform soon.
Terms of the deal were not disclosed.