Late 2000

WHEN WAS PAYPAL FOUNDED ?

PayPal , as we know it , officially launched in October 2000 . It gained skyrocketing success in its early stage of development mainly due to using referrals and giving small fees of $ 20 , $ 10 and eventually $ 5 for signing up . The company achieved almost 10 % in daily growth during this period of its history .

The history of PayPal , the world ' s highest-valued fintech company

1998

WHERE DOES THE STORY OF PAYPAL BEGIN ?

Well , it goes back to Confinity Inc . created by Ken Howery , Luke Nosek , Max Levchin and Peter Thiel in 1998 . The company aimed to provide secure software for financial transactions on individually owned devices .

Early 2000

THE X . COM / COINFINITY MERGER

In 2000 , Elon Musk initiated a merger between the two parent companies of PayPal ; Confinity and X . com , his own online banking company . After realising that Confinity ’ s operations were more profitable than X . com ’ s , Musk continued to focus only on Confinity ’ s operations of transferring money .

16 January 2022