Online payments company PayPal plans to invest $500 million in Uber Technologies as the ride-hailing firm unveiled terms for its initial public offering on Friday, Refinitiv IFR reported.
PayPal will invest in Uber through a concurrent private placement at the IPO price, IFR reported on Thursday, citing sources.
Superapps are applications where customers go for a range of services, such as transportation, shopping and payments. Such companies can be much more lucrative than those that offer just one core business or service.
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