PayPal Acquires Modest Mobile Commerce Startup
In its first big transaction after cutting ties with eBay, PayPal has acquired mobile commerce startup Modest for an undisclosed amount of money. Modest provides innovative mobile solutions for merchants and retailers, including the ability to incorporate a buy button on apps for easier purchases on the user’s end.
Modest is designed to help merchants easily create apps for their businesses. The buy buttons have made Modest an attractive company for acquisition, and allow users to make a purchase through the app without being directed to a new web page. Merchants can also add buy buttons to emails to further streamline the purchasing process.
In addition to the new mobile commerce opportunities that PayPal will enjoy through Modest’s technology, the company will gain insight to inventory management and shipping statistics.
Mobile was founded by Dylan Richard and Harper Reed, who was the chief technology officer for President Obama’s 2012 re-election campaign
Buy buttons are becoming increasingly popular. Just last month, Google began testing buy buttons on select mobile searches, giving users a chance to make purchases directly through the search engine without being redirected to the company website. The company still earns money from the transaction and carries out the order, but Google is making it easier for people to search, shop and pay in one seamless transaction.