A Brief Overview of PayPal
PayPal is a company with a history stretching back to 1998. Since this time, the company has grown to become the largest online payment processing company in the world, with 250 million people holding PayPal accounts. Here are some of the key events in the history of this massive online payment company.
1998 - Confinity, a security software company, founded
1999 - Confinity launch PayPal, a money transfer service
2000 - Confinity merges with Elon Musk’s X.com
2001 - The company is renamed PayPal
2002 - PayPal goes public, generating more than $60 million
2002 - PayPal purchased by online giant eBay
2010 - PayPal reaches 100 million account holders worldwide
2014 - eBay spins off PayPal into a separate company
2018 - PayPal has over 250 million users throughout the world
Nowadays, PayPal is the best-known money transfer service around. There are rivals, such as Skrill and Neteller, however these don’t have anywhere near the same number of customers as PayPal. What’s more, PayPal only looks like it is going to get bigger, further cementing it as one of the world’s biggest and most influential companies.