PayPal IPO Delayed
from the keep-waiting dept
While everyone expected PayPal to finally price tonight and start trading tomorrow, it turns out that they're delaying the IPO due to a patent infringement lawsuit filed earlier this week. Interesting timing on the lawsuit. I doubt that such a lawsuit will delay the IPO for too long, as they probably just need to file some documents admitting that the lawsuit exists and is a risk, blah, blah, blah. It looks as though PayPal may have to face up to the fact that they're really going public - and that their bluff to try to flush out a corporate buyer didn't work.
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Paypal and Deutsche Bank / ING
If you are aware that Deutsche Bank was the major investor in Paypal in teh first and second rounds and ING (NOT Deutsch Bank) in the third round and if you know that they are direct competitors, that ING set up Paypal's European network and that ING has an aggressive strategy to expand in the USA (f.e. ING Direct) then you can imagine that DB woudl not especially like all this cozyniess betwen ING and Paypal. DB has insider knowledge from having been a Paypal investor from day one so they have the means to twarth the ING/Paypal venture. Isn't it likely that is all about the battle betwene ING and Deutsche Bank and that Paypal is just being used for this?
The question is if investors want to gamble on the outcome of such a battle of giants.
[ link to this | view in chronology ]