PayPal Acquires Modest
PayPal announced the acquisition of Modest. Modest was founded in 2012 and allows merchants to offer an end-to-end experience that makes selling on any platform easier and simpler.
Social media networks are evolving from places where people share and discover great new things to places where they buy the things they find, at the moment of discovery. And, of course, people increasingly want to do all of this on mobile.
This new category of shopping is called ‘contextual commerce’. A great example of this is Pinterest’s Buyable Pins which – in conjunction with PayPal’s Braintree platform – make it possible for tens of millions of Pinners to securely buy products pinned from merchants such as Nordstrom, Neiman Marcus, Gardener’s Supply Company, and Michaels in just a few taps on an iPhone or iPad.
Contextual commerce is an exciting opportunity for PayPal, representing a new frontier for commerce that is rapidly growing. The acquisition of Modest will help us do amazing things in this area, faster than ever before. For merchants, this means PayPal will be able to offer a complete commerce solution (payments and order management) to help them add contextual commerce channels to the ways that they sell to their customers. For consumers it will mean seamless, simpler, and safer ways to buy the things they want, anywhere they discover them.
Source: PayPal – PayPal Acquires Modest
