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History of paypal
It was originally founded under the name of Confinity in 1998 by Peter Thiel and Max Levchin. After its merger with X.com it was renamed PayPal. It is worth noting that still retain the domain x.com
One of its first headquarters was the 165 University Avenue in Palo Alto, California, where he started several companies in Silicon Valley. In principle, PayPal was a service to transfer money via PDAs. But the payment on the web became a business more palatable. An aggressive marketing campaign offering first $ 10 and then $ 5 for registering in the system, causing the growth was meteoric: between 7 and 10% per day between January and March 2000.
eBay purchased PayPal in October 2002, when it was the payment method used by over 50% of eBay users, and the service competed with eBay's own system, BillPoint.
Its last remaining asset was BidPay, which closed on December 31, 2005 and relaunched in 2006 under the tutelage of Cyber Source, after the Citibank service was closed in 2003 and the Yahoo!, PayDirect was closed in 2004.
Currently, its closest competitors are Moneybookers and Google Checkout.
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