PayPal is throwing a little party to celebrate its newly acquired independence from parent company eBay.
The digital payments company is inviting members of the public to come out to Times Square in New York City to see its “PYPL” stock symbol scroll across the Nasdaq ticker. The company will have photo booths set up and will be giving out free coffee and donuts.
PayPal is also urging visitors to discuss the event on social media using the hashtag “#PYPL”, and for good reason: It’s eager to build its brand now that it’s an independent company. And given that PayPal is looking to be particularly active in the mPayment space, trying to get the message out via smartphone-addicted social media users seems like a good strategy.
It isn’t going to be an easy road for PayPal as it strikes out on its own: Plagued this summer by a controversy over the alleged privacy violations of its user agreement, the company has also seen its former CEO publicly suggest that it faces “huge challenges” as it ‘plays catch-up’ against mPayment leaders like its new arch-rival, Apple. On the other hand, given Apple’s strenuous efforts in the mPayment space, it’s remarkable that PayPal is able to pose such a serious threat as a competitor at this stage in the game; and it’s also encouraging that investors seem to be quite confident in the company’s prospects.
It’s an exciting time, in any case, and on July 20 visitors to Times Square will get to share in a bit of that excitement.