PayPal Success Story

BY

INFOCLUTCH | DECEMBER 27, 2021


The solution helps commercial users, online vendors and many auction sites. The company has many subsidiaries such as Xoom Corporation, Braintree, iZettle, Honey, PayPal Credit, TIO Networks, Paydiant, Venmo, Tradera and card.io.


This payment system is considered as one of the secured in the market. It is available to consumers in around 203 markets.


success story of paypal

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