Diversification Initiatives of PayPal

PayPal
Student’s Full Name
Department, Institutional Affiliation:
Course Name and Number
Professor’s Name
Due date of paper
PayPal
PayPal is an online platform that enables people to send and receive money locally and globally. It has enabled merchants and customers to transact online by quickly accessing their credit cards, bank accounts, or mobile wallets (Trautman, 2015). Companies achieve diversification in various ways to grow and expand their operations. First, companies can acquire or merge with other firms to obtain their assets and competencies (Hitt et al., 2019). Secondly, companies can create alliances with other companies to pull their resources. And lastly, companies can create diversity in new markets, technologies, and products through internal development to remain competitive in the market.
PayPal has achieved this diversification by creating a partnership with growing digital companies like Instagram and Uber and acquiring GoPay and Venmo in China. Such partnerships facilitate the company to thrive in the highly competitive online platform. For instance, PayPal has created an alliance with Uber to access their global customers and become their preferred payment method. Besides, it has expan...