TWTR Stock – Twitter May Team Up With PayPal Rival Stripe

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TWTR stock is seeing some upward movement as it discusses a partnership that will allow users to make purchases via Twitter.

TWTR stock twitterThe deal with startup Stripe (a potential Paypal rival) would allow retailers or manufacturers to better sell merchandise directly on Twitter.

TWTR stock was up more than 5% in early morning trading.

This is an evolutionary entry into e-commerce for the social media giant.

Note that last summer, Twitter named former Ticketmaster CEO Nathan Hubbard its new head of commerce.

While both companies declined to comment on the news leak, as Recode notes, “Twitter hooked up with American Express to let AmEx card holders use Twitter to buy specific products if they synced their credit card with Twitter.”

Additionally, a similar deal with Starbucks has users sync up their Starbucks accounts to Twitter — then tweeting to buy friends a Starbucks gift card.

But this is the first time a true e-commerce move is being made by Twitter. (via Recode)

[In the past], Twitter has never fully embraced the commerce side of its business, according to two people familiar with the matter, often building and then shelving commerce-related products. A “tweet to send money to others” product was built, as well as other versions of “tweet to buy,” according to sources, but never shipped. Internally, sources said, support for commerce-related programs has waxed and waned over the years.

With $40 million backing from Sequoia Capital, General Catalyst and others, Stripe helps companies accept payments on websites and mobile apps within a day via its customized APIs.

TWTR stock is up 42% since its offering last year.


Article printed from InvestorPlace Media, https://investorplace.com/2014/01/twtr-stock-twitter-paypal-rival-stripe/.

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