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PayPal was originally founded as [[Confinity]] by [[Peter Thiel]] in 1998 with PayPal being the name of its product. In early 2000, it merged with [[X.com]], founded by [[Elon Musk]] who was installed as CEO. Later on the same year, Musk was ousted as CEO and the company changed its name to PayPal.<ref>{{Web citation|author=Julie Ankenbrandt|newspaper=Forbes|title=How Was The Rivalry Between Paypal And X.com Before And After The Merger?|date=2015-10-09|url=https://www.forbes.com/sites/quora/2015/10/09/how-was-the-rivalry-between-paypal-and-x-com-before-and-after-the-merger|archive-url=https://web.archive.org/web/20151010083914/https://www.forbes.com/sites/quora/2015/10/09/how-was-the-rivalry-between-paypal-and-x-com-before-and-after-the-merger/|archive-date=2015-10-08}}</ref> | PayPal was originally founded as [[Confinity]] by [[Peter Thiel]] in 1998 with PayPal being the name of its product. In early 2000, it merged with [[X.com]], founded by [[Elon Musk]] who was installed as CEO. Later on the same year, Musk was ousted as CEO and the company changed its name to PayPal.<ref>{{Web citation|author=Julie Ankenbrandt|newspaper=Forbes|title=How Was The Rivalry Between Paypal And X.com Before And After The Merger?|date=2015-10-09|url=https://www.forbes.com/sites/quora/2015/10/09/how-was-the-rivalry-between-paypal-and-x-com-before-and-after-the-merger|archive-url=https://web.archive.org/web/20151010083914/https://www.forbes.com/sites/quora/2015/10/09/how-was-the-rivalry-between-paypal-and-x-com-before-and-after-the-merger/|archive-date=2015-10-08}}</ref> | ||
In February 2002, PayPal went public with an IPO that raised $70.2m.<ref>{{Web citation|newspaper=CNET|title=PayPal pulls in $70.2 million in IPO|date=2002-02-14|url=https://www.cnet.com/tech/tech-industry/paypal-pulls-in-70-2-million-in-ipo/}}</ref> 8 months later, they were acquired by [[eBay]] | In February 2002, PayPal went public with an IPO that raised $70.2m.<ref>{{Web citation|newspaper=CNET|title=PayPal pulls in $70.2 million in IPO|date=2002-02-14|url=https://www.cnet.com/tech/tech-industry/paypal-pulls-in-70-2-million-in-ipo/}}</ref> 8 months later, they were acquired by [[eBay]].<ref>{{Web citation|author=Joris Evers|newspaper=Computer World|title=EBay completes PayPal acquisition|date=2002-10-04|url=https://www.computerworld.com/article/1339355/ebay-completes-paypal-acquisition.html|archive-url=https://web.archive.org/web/20240423151345/https://www.computerworld.com/article/1339355/ebay-completes-paypal-acquisition.html|archive-date=2023-04-23}}</ref> eBay transactions accounted for 60% of PayPal's business at the time.<ref>{{Web citation|author=David Colker|newspaper=LA Times|title=EBay to Acquire Online Payment Service PayPal|date=2002-07-09|url=https://www.latimes.com/archives/la-xpm-2002-jul-09-fi-ebay9-story.html|quote=EBay transactions account for about 60% of PayPal’s business}}</ref> | ||
== Growth & Split == | |||
During the rest of the 2000s, PayPal expanded into international markets and grew into its own entity outside the purview of eBay, contributing to the split between eBay and PayPal.<ref>{{Web citation|author=Mark Odell|newspaper=Financial Times|title=Timeline: The rise of PayPal|date=2014-09-30|url=https://www.ft.com/content/86432398-4897-11e4-9d04-00144feab7de}}</ref> In 2014, PayPal and eBay announced that they would split.<ref>{{Web citation|author=Roger Cheng|newspaper=CNET|title=eBay, PayPal to split into separate companies in 2015|date=2014-09-30|url=https://www.cnet.com/tech/services-and-software/ebay-to-split-paypal-into-separate-company-in-2015/|archive-url=https://web.archive.org/web/20210802195542/https://www.cnet.com/tech/services-and-software/ebay-to-split-paypal-into-separate-company-in-2015/|archive-date=2021-09-02}}</ref> PayPal was driving a large amount of eBay's revenue while eBay was stagnating. | |||
== References == | == References == | ||
Revision as of 17:07, 9 August 2025
 | This article is a stub. You can help improve this article by editing it. |
PayPal Holdings, Inc. | |
|---|---|
 | |
| Industry | Financial technology |
| Founded | March 2000 |
| Founder | Ken Howery Max Levchin Luke Nosek Yu Pan Peter Thiel Elon Musk Harris Fricker Christopher Payne Ed Ho |
| Predecessors | Confinity X.com |
PayPal, officially PayPal Holdings, Inc. is a Statesian multinational financial technology company operating an online payments system. It has been used to censor anti-war voices and other activists.[1]
Founding & Acquisition
PayPal was originally founded as Confinity by Peter Thiel in 1998 with PayPal being the name of its product. In early 2000, it merged with X.com, founded by Elon Musk who was installed as CEO. Later on the same year, Musk was ousted as CEO and the company changed its name to PayPal.[2]
In February 2002, PayPal went public with an IPO that raised $70.2m.[3] 8 months later, they were acquired by eBay.[4] eBay transactions accounted for 60% of PayPal's business at the time.[5]
Growth & Split
During the rest of the 2000s, PayPal expanded into international markets and grew into its own entity outside the purview of eBay, contributing to the split between eBay and PayPal.[6] In 2014, PayPal and eBay announced that they would split.[7] PayPal was driving a large amount of eBay's revenue while eBay was stagnating.
References
- ↑ Kevin Reed (2022-05-04). "PayPal shuts accounts of anti-war publications Consortium News and MintPress News" WSWS.
- ↑ Julie Ankenbrandt (2015-10-09). "How Was The Rivalry Between Paypal And X.com Before And After The Merger?" Forbes. Archived from the original on 2015-10-08.
- ↑ "PayPal pulls in $70.2 million in IPO" (2002-02-14). CNET.
- ↑ Joris Evers (2002-10-04). "EBay completes PayPal acquisition" Computer World. Archived from the original on 2023-04-23.
- ↑ “EBay transactions account for about 60% of PayPal’s business”
David Colker (2002-07-09). "EBay to Acquire Online Payment Service PayPal" LA Times. - ↑ Mark Odell (2014-09-30). "Timeline: The rise of PayPal" Financial Times.
- ↑ Roger Cheng (2014-09-30). "eBay, PayPal to split into separate companies in 2015" CNET. Archived from the original on 2021-09-02.