Mission:
“We believe now is the time to reimagine money, to democratize financial services, so that managing and moving money is a right for all citizens, not just the affluent.”
Vision:
“We believe every person has the right to participate fully in the global economy. We have an obligation to empower people to exercise this right and improve financial health.”
Core Values:
Collaboration
Trust
Demonstrating Integrity
Respect
Wellness
Empathy
Innovation
Inclusion
Early story of PayPal:
The company was founded in 1998 in Palo Alto, USA
It came into existence by the name Confinity
The company’s electronic payment system was launched in 1999
In the year 2000, Confinity was acquired by x.com
Rise to success:
The company was renamed from x.com to PayPal in the year 2001
It went public in 2002
The company’s services significantly grew from 2000-2002
In the year 2005, the company acquired VeriSign payment solutions
In 2007, it announced partnership with MasterCard
In the same year, the company generated a revenue of $1.8 billion
In 2008, it acquired Fraud Sciences, an Israeli startup
In 2011, the company announced moving business offline
In 2012, it announced partnership with Discover Card
In 2013, it acquired IronPearl, a startup into engagement software
In 2014, Dan Schulman became CEO of the company
It became an independent public company traded on NASDAQ on July 20, 2015
In 2015, it acquired Xoom Corporation, a digital money transfer company
In 2015, the company launched its P2P payment platform PayPal.Me
In May, 2018, it agreed to acquire iZettle for $2.2 billion
In 2019, the company was ranked 204th in Fortune 500
In October, 2020 it launched cryptocurrency capabilities in USA
In the same year, it added 72.7 million active accounts
eBay and PayPal:
PayPal was acquired by eBay on October 3, 2002
eBay auctions accepted PayPal payments significantly (>70%)
The company was an eBay subsidiary till 2014
On September 30, 2014 it was announced that PayPal would function as separate company
Latest news on PayPal:
As per news on July 20, 2021, PayPal holdings has announced an increase in purchase limit of cryptocurrency for eligible USA customers
It is raised to $100,000 per week without any annual purchase limit
The company received conditional bitlicense from New York State Department of Financial services.
It currently has $346.1 billion market capitalization
It is now towards achieving around 400 million active accounts
It now ranks 8th in the list of 30 popular stocks among Hedge Funds
SHARE:
