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Uber-Investment becomes a burden for Paypal «kleinezeitung.at



The weather was rather unfortunate, given Uber's difficult situation with investors since then.

07:05, October 09, 2019

Uber investments are borne by Paypal
Uber investments are borne by Paypal © APA / AFP / ERIK PIERMONT

Paypal has not benefited from the introduction of the Uber car broker. For the third quarter, payroll was announced on Tuesday, after the US market closed a special $ 228m ($ 208m) pre-tax ($ 208m) spending on flop investments.

The reason is primarily because Pepal invested shortly before Uber's disappointing IPO in May, a $ 500 million private-equity facility there. The weather was rather unfortunate, given Uber's difficult situation with investors since then.

According to Paypal, the shares lost more than a third of their value last quarter. The stake in Latin American online retailer Mercado Liber proved to be a mistake. Here, there was a minus of ten percent, which also contributes significantly to adjusting the balance sheet value. A detailed quarterly report will be provided by Paypal on October 23.



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