PayPal has appointed a new head of its Australian merchant services division, on the back of what the company says is ten-fold growth in the market and half of the top 100 Australian online retailers offering PayPal as a payment option.
Ten years in from its initial foray into the Australian market, US-based company, F5 Networks, has experienced strong local growth, particularly in recent years as it transitioned globally from its early days, primarily as a load balancing company, to an application delivery and networking provider with security at the forefront of its products and services.
eBay reported strong earnings today, thanks to growth in mobile adoption, as well as improved performance in the Marketplaces business. The company also released its mobile commerce numbers for the year, which blew past original estimates.
In 2013, eBay expects each to exceed a whopping $20 billion.
PayPal and eBay both expected $10 billion in sales/payments volume for the year, individually.
Data management solutions vendor and wholly-owned SAS subsidiary, DataFlux, has installed a new managing director to spearhead business growth in Australia and to boost its expertise in the emerging data management market.
Rob Wells is the managing director for Avaya in Australia and New Zealand. But he’s also well known to the local industry for his previous roles, including as managing director of SAP subsidiary Business Objects.
Insight Venture Partners, a New York-based growth fund that’s backed Tumblr and Twitter, just raised $2.57 billion in what is likely one of the largest raises for a venture fund ever.
This is their eighth fund since managing director Jeff Horing co-founded the firm out of business school in 1995.
Touting its increasing focus on credit products for both consumers and small businesses, PayPal today announced it is rebranding its Bill Me Later service as “PayPal Credit,” while that and its PayPal Working Capital business loans service are now destined for international expansions. PayPal Credit is soon being rolled out to the U.K.