In its second-largest acquisition, Amazon buys the company for $970 million.
Software engineers in Bangalore will work on PayPal and other projects.
EBay Inc. said this week it will open a development center in Bangalore, India’s information technology hub, where up to 1,000 technology professionals will work within three years—including employees attached to eBay Marketplaces and PayPal. In India, eBay already operates its local business unit out of Mumbai, along with another development center in Chennai that employs more than 2,200 workers.
"PayPal is growing at a phenomenal rate globally," says Anupam Pahuja, general manager, PayPal, at eBay’s technology center in Chennai."To support this growth, we are looking to tap into the large pool of software engineering talent in Bangalore to come innovate with us and create the future of commerce. We are committed to India as a technology hub and see India's software engineering talent as a critical driver for the long-term success of PayPal's global payment platform."
Last month, in reporting its first quarter financials, eBay said that active users of eBay’s payment services, which include consumers with PayPal or Bill Me Later accounts, increased 12.4% year over year to 109.8 million consumers from 97.7 million. PayPal’s revenue for the quarter increased to $1.3 billion, and total payment volume increased to $33.9 billion, up 31% and 25%, respectively.
To staff its new development center, eBay says it is hiring senior technologists with strong product development experience in research, platform and application development, architecture, quality engineering, product management, marketing and product analytics, user experience and design, and information security.