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Zong Officially Acquired by eBay

Price: $240 million

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eBay announced that it has officially completed its acquisition of Zong, announced just over a month ago.

Zong provides payments through mobile carrier billing, and is now part of PayPal. eBay says it adds complementary technology and talent to strengthen PayPal’s position in mobile payments and digital goods.

According to eBay, Zong leverages connections with over 250 mobile network operators.

“Commerce is changing. With mobile phones, we walk around with a mall in our pockets. PayPal helps to make money work better for customers in this new commerce reality – no matter how they want to pay or what device they’re using,” said PayPal President Scott Thompson, when the acquisition was announced. “We believe that Zong will strengthen this value by helping us reach the more than 4 billion people who have mobile phones, giving them more choice and security when they pay.”

Zong and PayPal

“Our customers love the convenience of paying with their mobile numbers – a number they know by heart, and a device that they always have with them,” said Zong CEO David Marcus. “We look forward to extending our services to PayPal’s more than 9 million merchants around the world. And we’re committed to working with carriers and merchants to help them drive more sales across devices.”

PayPal expects to process over $3 billion in mobile payments this year.

Other recent eBay acquisitions include: GSI Commerce, Magento, WHERE, MissionFish, Fig Card and Where.

Zong Officially Acquired by eBay
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