https://techcrunch.com/2019/04/26/paypal-makes-a-big-marketplace-play-with-its-500m-investment-in-uber/

Uber’s announcement of its IPO pricing earlier today came with a $500 million belated Easter egg. The payments giant PayPal is making a half-billion-dollar investment at the company, paying $47 per share, which gives the company a valuation of $78.8 billion (in the middle of the range of Uber’s IPO pricing of $44-$50 per share).

Neither Uber nor PayPal gave much detail about the the $500 investment. Uber’s S-1 and a short statement on LinkedIn from PayPal’s CEO Dan Schulman both used the same wording, noting the deal would help the two work on “future commercial payment collaborations, including the development of Uber’s digital wallet.” So what’s actually going on here?