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When PayPal launched at a press conference in 1999, representatives from Nokia and Deutsche Bank sent $3 million in venture funding to Thiel using PayPal on their PalmPilots. PayPal then continued to grow through mergers in 2000 with Elon Musk 's online financial services company X.com , and with Pixo , a company specializing in mobile commerce.
PayPal rebrands its services for small businesses as PayPal Payments and debuts a number of online, offline, and mobile payment options. [44] 2012: May 30: Product: PayPal InStore is released in the UK with barcodes, but no NFC. [45] 2012: June 19–20: Product: PayPal launches a new, redesigned, sleeker site. [46] 2012: December 13: Product
In 2002, PayPal was acquired by eBay for $1.5 billion in stock, of which Musk—PayPal's largest shareholder with 11.7% of shares—received $176 million. [26] [27] In 2017, more than 15 years later, Musk purchased the X.com domain from PayPal for its "sentimental value". [28] [29] In 2022, Musk discussed a goal of creating "X, the everything ...
Instead of walking out, he opted to stay on with the company in a senior role, until selling PayPal to eBay for $1.5 billion in 2002. As the largest PayPal shareholder, Musk walked away with $180 ...
PayPal joined the cryptocurrency market in 2020, allowing customers to buy, sell and hold bitcoin and other virtual coins using the digital payments company's online wallets.
eBay, PayPal, Kijiji and StubHub, 500 King Street West, Toronto, April 2014. PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders.
PayPal/X.com. After selling Zip2, a software company designed to help newspapers build online city guides, to Compaq Computer in 1999, Musk used the proceeds to create X.com.
Musk led the Series A round of investment in February 2004; he invested $6.35 million, became the majority shareholder, and joined Tesla's board of directors as chairman. [115] [116] Musk took an active role within the company and oversaw Roadster product design, but was not deeply involved in day-to-day business operations. [117]