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PayPal invests $500 million in Uber ahead of IPO

PayPal has decided to invest $500 million in Uber ahead of the Initial Public Offering. The partner at Venture Capital Firm Propel Ventures, Ryan Gilbert said that no one would spend this much money unless it is part of a global policy. PayPal is planning to grow, and these investments will help it to reach millions of global customers. Earlier in the year, the global online payments system invested $750 mn in MercadoLibre.