CEO: Daniel Schulman
Based in: San Jose, US
Founded: December 1998
Best known for: Online payments
Traded on: NYSE
0'>PayPal is a payment processing company that enables transfers to be made online. It was initially known as Confinity and was bought by eBay in 2002. The eCommerce giant subsequently spun off PayPal into a separate company once again in 2015.
Widely seen as an alternative to cash, PayPal makes money by enabling users to send funds to their friends and family – either through the currency that’s already in their balance, or via their bank account, credit or debit card. Online businesses can also simplify the process of accepting payments, as users do not need to re-enter their details. The PayPal company charges a fee for most completed transactions.
Elon Musk was a co-founder of PayPal and briefly served as CEO, but he has since moved on to SpaceX and 0'>Tesla. In terms of PayPal share price history, the company managed to raise $70.2 million during its initial public offering in 2002, selling 5.4 million shares at $13 apiece. Months later, 0'>eBay purchased the company in a $1.5 billion deal for $23 a share – 77 per cent over the IPO price. July 2015 saw the company return to the stock market with a valuation of $52 billion.
PayPal in numbers
Total payment volume in 2019
Successfully completed transactions in 2019
Average number of payments per account
Active PayPal accounts in 2019
Funds raised by charities through PayPal in 2019
39 per cent
Of online shoppers prefer to use PayPal, compared with 42 per cent who prefer credit cards