PayPal Makes Its First Acquisition After Splitting From eBay

The digital payments giant makes a move in this suddenly hot of e-commerce area.

PayPal has bought mobile commerce startup Modest, marking the digital payment giant’s first acquisition since spinning out of eBay last month.

Modest, which premiered publicly earlier this year, helps merchants create mobile apps for their stores.

“Mobile commerce sucks, and we wanted to change that,” said Modest co-founder Harper Reed in an interview with Fortune.