PayPal

Confinity, the company that would later become PayPal, was founded in December 1998 by Max Levchin, Peter Thiel, and Luke Nosek. It was initially established as a company to develop security software for handheld devices but later focused on developing a digital wallet. This shift marked the beginning of what would become one of the most influential electronic payment systems in the world.

In March 2000, PayPal launched its digital wallet service. This service allowed people to transfer money via the internet without having to share financial information, making it revolutionary for its time. PayPal's digital wallet quickly rose in popularity as it provided a solution for both consumers and merchants to transact online securely.

PayPal went public on July 2002, with its initial public offering raising $61 million. The company's IPO was highly anticipated, and its shares surged significantly during its debut. This successful public offering was a crucial step in PayPal's growth, expanding its visibility and providing the company with the capital needed to expand its operations.

In October 2002, eBay acquired PayPal for $1.5 billion in stock. This acquisition was notable because PayPal had become the preferred payment method for eBay auctions, outpacing eBay's own payment system, Billpoint. The acquisition allowed PayPal to leverage eBay's global presence and infrastructure, while eBay benefited from PayPal's robust payment processing capabilities.

By January 2008, PayPal had expanded into mobile payments. This move was significant as it allowed users to send money and make purchases via mobile devices. PayPal's mobile strategy was a response to the growing trend of mobile commerce, and it helped the company maintain its leadership position in the evolving digital economy.

In September 2013, PayPal announced its acquisition of Braintree for $800 million. Braintree, a payment gateway known for its mobile and web payment systems, also owned Venmo, a popular peer-to-peer payment app. This acquisition allowed PayPal to strengthen its position in mobile payments and appeal to a younger demographic that favored Venmo for money transfers.

On September 30, 2014, eBay announced that it would spin off PayPal into a separate publicly traded company. This decision was influenced by the belief that both companies would be more successful in their respective markets if they operated independently. The split was completed in July 2015, allowing PayPal to explore opportunities beyond eBay's marketplace.

On July 20, 2015, PayPal officially became an independent company, separate from eBay. This monumental event marked PayPal's ability to operate and grow as a standalone entity. As an independent company, PayPal focused on expanding its offerings, enhancing its payment technologies, and exploring new market opportunities.

In May 2018, PayPal acquired iZettle for $2.2 billion. iZettle, known as the 'Square of Europe', offered point-of-sale systems and other financial services for small businesses. This acquisition represented PayPal's strategic move to expand into the point-of-sale market and compete with companies like Square in offering payment solutions for small merchants.

In October 2020, PayPal announced that it would allow users to buy, hold, and sell cryptocurrencies directly from their PayPal accounts. This move was a significant development in the mainstream adoption of cryptocurrencies, as PayPal's vast user base could now transact with digital currencies. It positioned PayPal as a pioneer in integrating crypto with traditional financial platforms.