Utilize the input text as a context reference, choose the right relationship between PayPal and Nasdaq from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

PayPal had traded on the Nasdaq exchange prior to being acquired by eBay.

Answer: stock_exchange