NEW YORK (Reuters) - Revolution Money, an online payment firm backed by AOL co-founder Steve Case, said on Monday it has received funding of $42 million from a group that includes a Goldman Sachs (NYSE:GS - News) affiliate and earlier investors Citigroup (NYSE:C - News) and Morgan Stanley (NYSE:MS - News).
Revolution Money, part of Washington-based Revolution LLC, competes with EBay Inc's (NasdaqGS:EBAY - News) PayPal service in peer to peer money transfers, and offers a credit card.
Ebay announced earlier in the day, by end-2009 it would lay off 2,500 workers, that is a total cut of 20% of its global workforce. No reasons were given, an eBay spokesperson declined to comment.
eBay will NEVER go under $10 a share, here is why:
Some ebay facts:
ebay shares never have and never will drop below $10 a share. ebay is a safe investment: It's the economy, stupid! ebay is an internet giant, it will exist forever. ebay has never and will never lose a lawsuit. ebay controls the internet: it owns eBay, Paypal and Skype. ebay values freedom of speech, due process and free and fair trade. ebay seller fees have decreased. the feedback system on ebay is fair and does not discriminate against sellers. ebay hardly ever suspends sellers. If a seller is suspended, they are automatically reinstated after 5 days (no more faxing documents needed). ebay offers phone support to assist sellers and buyers. Paypal does not hold sellers money for 30 days. ebay values sellers, treats them with dignity, courtesy and respect. selling on ebay is fun, easy and hassle-free.
eBay is totally overvalued,
the shares should be at around $5 right now, the following blog should help understand why: