PayPal

Intro and history: PayPal, founded in 1998, is a leading global payment system that operates online. It was initially a security software company, Confinity, which later focused on digital wallets. In 2000, Confinity merged with X.com, Elon Musk's online banking company, and later became PayPal. eBay acquired it in 2002, and it became a popular payment option for eBay users. In 2015, eBay spun off PayPal into a separate publicly traded company. Industry: Financial Services Product, Services and Operations: PayPal provides online money transfers, an electronic alternative to traditional paper methods. It also offers services like credit card readers for small businesses and charitable donation processing. The company operates as a payment processor for online vendors, auction sites, and many other commercial users. Funding Details: PayPal went public in 2002 and was acquired by eBay later that year for $1.5 billion. As of 2021, its market capitalization is over $300 billion. Acquisitions: Notable acquisitions include Braintree (2013), which owned the mobile payment service Venmo, and the international money transfer company Xoom Corporation (2015). Awards and Achievements: PayPal has received numerous awards, including being ranked 222 on the 2018 Fortune 500 of the largest United States corporations by revenue, and winning multiple Webby Awards for "Best Financial Services Site" and "People's Voice Award".