by: Erick Schonfeld posted on: October 06, 2008 | about stocks: On the same day the public markets are tanking because of the spreading credit crisis, we see one of the biggest M&A exits of the year with eBay acquiring Bill Me Later for $945 million ($820 million in cash, plus an extra $125 million in options). This is for a company that lets consumers defer payment when they buy things online. Remember, loose credit is part of the reason we are in the current economic mess. So is Bill Me Later part of the problem or part of the solution? I put that question to Michael Kwatinetz, the former Wall Street tech analyst who is now a partner at Azure Capital, the biggest shareholder in Bill Me Later. He explained to me how Bill Me Later works, and how it actually has more stringent credit controls than most credit cards: The...
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