Consumer shopping has revolutionized in the past twenty years. With the introduction of the internet, shopping worldwide has been made possible. So came with it all of the hazards of fraud and the complexities of foreign currency exchange.
In 1998, Peter Thiel, Ken Howery, Luke Nosek and Max Levchin founded Confinity, a company that focused on security software for handheld devices. In 1999, PayPal was developed as a secure money transfer service at Confinity. It was funded by John Malloy from BlueRun Ventures. In early 2002, the company went public at $13 dollars a share as IPO listed PYPL.
In July of 2002, shortly after it went public, eBay announced they had purchased the company for $1.5 billion dollars. eBay made this company the default payment choice on its website. In 2014, they split from eBay. eBay did agree to still use them for the next five years and to have 80% of its selling transactions be through this company. The company is currently a stand-alone enterprise owning subsidiaries Braintree, Paydiant, Venmo, Xoom Corporation and its credit division.
This company is founded on the belief that international access to ﬁnancial services can create and increase opportunity for individuals and businesses in a global environment securely. This global approach has provided this company over 200 million active account holders. It services payments online, person to person, on mobile devices, and with an app. The company, including its subsidiaries and partnerships, are active in over 200 markets globally. So far this company transacts payments in over 100 currencies, allows withdrawals in 56 currencies, and has balance holding accounts in 25 currencies. It is dedicated to researching new and innovative ways to servicing their clients ﬁnancial needs.
The current board consists of Dan Schulman – President and CEO; Bill Ready – EVP, Chief Operating Officer; John Rainey – EVP, Chief Financial Officer; Louise Pentland – EVP, Chief Business Affairs & Legal Officer; Gary Marino – EVP, Chief Commercial Officer; Tomer Barel – EVP, Chief Enterprise Services Officer; Jonathan Auerbach – EVP, Chief Strategy & Growth Officer; Aaron Karczmer – SVP, Chief Risk and Compliance Officer; Rupert Keeley – SVP, EMEA, CEO PayPal Europe Bank, Marcia Morales-Jaffe – SVP, Chief People Officer; Rohan Mahadevan – SVP, APAC CEO, PayPal Pte Ltd; Franz Paasche – SVP, Corporate Affairs and Communications; Sri Shivananda – SVP, Chief Technology Officer; Wanji Walcott – SVP, General Counsel.
Corporate Headquarters location is 2211 North First Street, San Jose, California 95131 and Worldwide Operations 12312 Port Grace Boulevard La Vista, Nebraska 68128. A new global center of operations was opened in Kuala Lumpur during 2014. The Paypal help centre allows you to find answers or join the conversation in their Community Help Forum.