May 3, 2011
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Ebay and PayPal complement their individual growth.

Internet auction site and the online payment service have seen huge growth, mainly because of their respective apps but surprisingly also because of the development of PayPal.

In the first three months of this year, the net income for eBay was up by 20%. This then resulted in revenue of $2.55bn.

EBay is coming to the conclusion of its three year business plan to achieve more and develop the business.

PayPal have also started the year strongly, partly because of the developments with eBay have boosted the number of transactions that PayPal have completed on their behalf.  The number of PayPal registered accounts also grew by 16%, which excludes their eBay motors division.

The online market place, according to PayPal has grown by 8%. Smartphone’s, Apps and better internet access are also influencing this growth.

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