PayPal is an online payment service formed from the 2000 merger of Confinity, co-founded by Peter Thiel and Max Levchin, and X.com, co-founded by Elon Musk, and acquired by eBay in 2002 before its own spin-off as an independent public company in 2015. It became one of the earliest and most widely used online payment platforms, letting users send and receive money and pay for goods online without directly sharing card or bank details with a merchant, and it later expanded to own additional payment brands including Venmo.
Facts
Classification
Sector (GICS) Offering Kind Connections
Associated With
The PayPal payment service is operated by PayPal Holdings, Inc.
Sources
1. Wikipedia, PayPal
WikipediaHistory, early history
launched in 1999
History, founding of Confinity
originally established by Max Levchin, Peter Thiel, and Luke Nosek in December 1998 as Fieldlink. Later it was renamed Confinity.
Introduction, GICS sector classification
PayPal Holdings, Inc.
Introduction, offering kind classification
PayPal Holdings, Inc.
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