15] [16] Ter March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk.

15] [16] In March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk.

PayPal Holdings, Inc. is an American company operating a worldwide online payments system that supports online money transfers and serves spil an electronic alternative to traditional paper methods like checks and money orders. The company operates spil a payment processor for online vendors, auction sites, and other commercial users, for which it charges a petite toverfee te exchange for benefits such spil one-click transactions and password memory.

1999 , Nineteen years ago ( 1999 ) (spil X.com)

  • Weten Howery
  • Luke Nosek
  • Max Levchin
  • Peter Thiel
  • Elon Musk (X.com founder)

Established te 1998 spil Confinity, [7] PayPal had its initial public suggesting te 2002, and became a wholly wielded subsidiary of eBay zometeen that year. [8] [9]

Te 2014, eBay announced plans to spin-off PayPal into an independent company by mid-2015 and this wasgoed ended on July Legal, 2015. [Ten]

Te 2018, eBay announced that after the existing eBay-PayPal agreement completes ter 2020, PayPal will remain a payment option for shoppers on eBay, but it won’t be prominently featured ahead of debit and credit card options spil it is today. PayPal will cease to process card payments for eBay at that time. [11]

Contents

Early history

PayPal wasgoed established ter December 1998 spil Confinity, [12] a company that developed security software for handheld devices [13] founded by Max Levchin, Peter Thiel, Luke Nosek, and Weten Howery. [12] [14] PayPal wasgoed developed and launched spil a money transfer service at Confinity ter 1999, funded by John Malloy from BlueRun Ventures. [15] [16]

Te March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk. [17] Musk wasgoed optimistic about the future success of the money transfer business Confinity wasgoed developing. [Eighteen] Musk and then-president and CEO of X.com, Harris Fricker, disagreed on this point and Fricker left the company te May 2000. [Legal] Te October of that year, Musk made the decision that X.com would terminate its other Internet banking operations and concentrate on the PayPal money service. [Nineteen] Ter the same month, Elon Musk wasgoed substituted by Peter Thiel spil CEO of X.com. The X.com company wasgoed then renamed PayPal te 2001, [20] and expanded rapidly across the year until company executives determined to take PayPal public te 2002. [14] [21] Paypal’s IPO listed under the ticker PYPL at $13 vanaf share and ended up generating overheen $61 million. [22]

eBay subsidiary (2002–2014)

Shortly after PayPal’s IPO, the company wasgoed acquired by eBay ter July 2002 for $1.Five billion, with a valuation of overheen $23 a share, or 77% above the IPO price. [Nineteen] [23] [24] More than 70 procent of all eBay auctions accepted PayPal payments, and harshly 1 ter Four closed auction listings were transacted via PayPal. [25] PayPal became the payment method used by a majority of eBay users (it wasgoed also the default choice), and the service competed with eBay’s subsidiary Billpoint, spil well spil Citibank’s c2it, Yahoo!’s PayDirect, Google Checkout, and Western Union’s BidPay service, all of which closed ter subsequent years.

PayPal acquired the VeriSign payment solution te 2005 to expand its e-commerce business and provide added security support. [26] [27] Ter 2007, PayPal announced a partnership with MasterCard that led to the development and launch of the PayPal Secure Card service, a software that permits customers to make payments on websites that do not accept PayPal directly by generating a unique, single-use MasterCard number for each checkout. [28] By the end of 2007, the company generated $1.8 billion te revenue. [29]

Te January 2008, PayPal acquired Fraud Sciences, a privately held Israeli start-up company with expertise ter online risk implements, for $169 million, te order to enhance PayPal’s fraud management systems. [30] Te November 2008, the company acquired Bill Mij Straks, an online payments company suggesting transactional credit at overheen 9000 online merchants ter the US. [31] PayPal revenues for Q1 2009 were $643 million, up 11 procent year overheen year. 42 procent of revenues ter Q1 2009 were from international markets. PayPal’s Total Payment Volume (TPV), the total value of transactions ter Q1 2009 wasgoed almost $16 billion, up Ten procent year overheen year. [32]

By 2010, PayPal had overheen 100 million active user accounts te 190 markets through 25 different currencies. [33] Ter July 2011, fourteen alleged members of the Anonymous hacktivist group were charged with attempting to disrupt PayPal’s operations. The denial of service attacks occurred ter December 2010, after PayPal stopped processing donations to Wikileaks. On December Five, 2013, 13 of the PayPal 14 pleaded guilty to misdemeanor and felony charges related to the attacks. [34] [35]

The company continued to build its Merchant Services division, providing e-payments for retailers on eBay. Te 2011, PayPal announced that it would start moving its business offline so that customers can make payments via PayPal te stores. [36] Te August 2012, the company announced its partnership with Detect Card to permit PayPal payments to be made at any of the 7 million stores ter Detect Card’s network. [37] By the end of 2012, PayPal’s total payment volume processed wasgoed US$145,000,000,000. [38] and accounted for 40% of eBay’s revenue, amounting to US$1,370,000,000 ter the 3rd quarter of 2012. [39]

Ter 2013, PayPal acquired IronPearl, a Palo Alto startup suggesting engagement software, [40] and Braintree, a Chicago-based payment gateway, to further product development and mobile services. [41] Te June 2014 David Marcus announced he wasgoed leaving his role [42] spil PayPal Voorzitter, Marcus joined PayPal ter August 2011 after its acquisition of Zong, of which he wasgoed the founder and CEO. [43] David Marcus succeeded Scott Thompson spil voorzitter, who left the role to join Yahoo. [43] PayPal announced that Marcus would be succeeded by Dan Schulman, who previously served spil CEO of Cherry Mobile and Executive vice voorzitter of American Express. [44]

Spin-off from eBay

It wasgoed announced on September 30, 2014, that eBay would spin off PayPal into a separate publicly traded company, a budge demanded te 2013 by activist hedge fund magnate Carl Icahn. The spin-off wasgoed finished on July Eighteen, 2015. [45] [46] [47] Dan Schulman is the current Voorzitter and CEO, with former eBay CEO John Donahoe serving spil chairman. [44] On Jan 31, 2018 it wasgoed announced that, “After the existing eBay-PayPal agreement finishes ter 2020, PayPal will remain a payment option for shoppers on eBay, but it won’t be prominently featured ahead of debit and credit card options spil it is today. PayPal will cease to process card payments for eBay at that time.” [48]

Related movie: Detect ThetaHealing®


Leave a Reply

Your email address will not be published. Required fields are marked *