It debuts new hardware and collaborates with brick and mortar stores for its in-store payments options. PayPal moves aggressively into new territory, including micropayments, mobile payments, in-store payments, international expansion, and more tools for small and medium businesses. The product and userbase grow steadily, faster than the parent company eBay. PayPal is acquired by eBay for $1.5 billion in eBay stock. PayPal competes fiercely with Billpoint, raises a huge amount of money, and even IPOs in February 2002. eBay responds with its own payment service, Billpoint. PayPal adopts eBay as a key platform to grow its userbase, because of the need for an online payment system on eBay. The combined entity, initially called X.com, later changes its name to PayPal. The first iteration of the PayPal product is released by Confinity in later 1999.Ĭonfinity and X.com merge. The two companies, Confinity and X.com, that will eventually merge to become PayPal, launch separately and build competing financial products. This is a timeline of online money transfer and e-commerce service PayPal, owned by eBay from 2002 to 2015 and an independent company before and after that. Timeline of the history of PayPal Holdings, Inc.
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