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Transaction is the heart of the developing business world. It revolutionizes the global economy with its circulatory nature. Safety and Reliability are the main factors that define what the best transaction is, and thus it describes the company PayPal evidently.
PayPal is a company based in the United States, which provides online money transaction services. Let’s have a look at the company’s journey.
PayPal – Company Highlights
| Startup Name | PayPal |
|---|---|
| Headquarters | California,United States |
| Sector | E-Commerce |
| Founders | Ken Howery, Peter Thiel, Max Levchin, Luke Nosek |
| Founded | December 1998 |
| Parent Organization | PayPal Payments Private Limited |
| Website | www.paypal.com |
PayPal - About
PayPal - Founders and Team
PayPal - Vision and Mission
PayPal - Name, Tagline, and Logo
PayPal - Growth and Revenue
PayPal - Business and Revenue Model
PayPal - Competitors
PayPal - Achievements
PayPal - Future Plans
PayPal - About
PayPal was established as ‘Confinity’ in December 1998 by Max Levchin, Peter Thiel, and Luke Nosek. The company functions as a payment processor in many e-commerce sites, and auction sites. PayPal’s first electronic payment was launched in 1999. Being as the PayPal platform, Braintree, Venmo, and Xoom enables the users in flexible transactions with different currencies. The company was acquired by eBay in 2002 and got separated in 2015. PayPal India Development Center is located in Chennai.
PayPal - Founders and Team
PayPal was founded in 1999 by Max Levchin, Peter Thiel, and Luke Nosek. Dan Schulman is the President and CEO of PayPal. He did his Bachelor’s from Middlebury College and an MBA from New York University Stern School of Business. He was the former president of Sprint’s Prepaid Group and he was also the CEO of Virgin Mobile. He now works towards democratizing the financial services of the billions of people.
The core team of PayPal are as follows
- Mark Britto - EVP, Chief Product Officer
- John Rainer - CFO and EVP, Global Customer Operations
- Louise Pentland - EVP, Chief Business Affairs and Legal Officer
- Jonathan Auerbach - EVP, Chief Strategy, Growth and Data Officer
- Peggy Alford - EVP, Global Sales
- Aaron Karczmer - Chief Risk Officer and EVP, Risk and Platforms
- Sri Shivananda - SVP, Chief Technology Officer
- Franz Paasche - SVP, Corporate Affairs
- Gabrielle Rabinovitch - VP, Investor Relations
PayPal - Vision and Mission
PayPal’s vision is to democratize financial services and empower people and businesses to prosper in the global economy.
StartupTalky
PayPal - Name, Tagline, and Logo
‘Paying your Pal’ is the focus of the company, which gave rise to the name ‘PayPal’. ‘Because you have to’ and ‘Safe Hai’ are the taglines that PayPal used before.
PayPal currently has 305 million active users with more than 200 markets around the world. In Q4 of FY19, the company’s revenue grew 17% to $4.96 Billion. A total of $200 Billion of TPV was processed only in Q4 and engagement grew 10% to 40.6 transactions per active account. 9.3 million new accounts were added during the fourth quarter of 2019.
PayPal - Funding and Investors
PayPal has raised a total of $216M over six different funding rounds.
| Date | Stage | Amount | Investors |
|---|---|---|---|
| January 1999 | Seed Round | Undisclosed | - |
| July 1999 | Series A | $3M | BlueRun Ventures |
| January 2000 | Series B | $23M | Clearstone Venture Partners, Goldman Sachs |
| April 2000 | Series C | $100M | Madison Dearborn Partners |
| February 2001 | Series D | $90M | - |
| September 2015 | Secondary Market | Undisclosed | - |
StartupTalky
PayPal - Business and Revenue Model
PayPal charges its customers and merchants with net transaction fees which are based on Total Payments Volume. It also makes money through other value-added services such as from interest and fees earned on loans.
Google Wallet, Skrill, Wepay, and 2checkout are some of the biggest competitors of PayPal.
PayPal - Achievements
PayPal has been named one of the top companies JUST Capital and Forbes’ JUST 100 List. The company has also been recognized as a Fortune Change the World company for its resilience in tackling the challenges.
StartupTalky
PayPal - Future Plans
PayPal plans a multi-featured mobile app which garners in-store shopping with personalized marketing features.
“This initiative could see it introduce a digital wallet for physical stores and utilize NFC and QR code technology to enable in-store payments, and follows it removing the ability to make in-store payments via its mobile app in March 2018”, said Dan Schulman, CEO of PayPal.
Author: Himaya Presthitha
Source : https://startuptalky.com/paypal-success-story/
Date : 2020-09-12T08:21:02.000Z