![]() This leads him to give a speech at Stanford University on emerging global market opportunities. He had already begun to note the connectivity that technological advancements. At the time, Peter Thiel had already formed ideas of his own around finding new opportunities in the changing world. However, these methods were terrible for scaling and updating. Remote shopping had already been around in the form of door-to-door salesmen, magazines, and cold call selling. With internet services came a plethora of activities to do online, mainly shopping. ![]() Every home with a computer soon found they also purchased internet services. Companies like Microsoft and Apple had already put a computer to personal use. The late ’90s was the beginning of the technological age. This is when Peter Theil and Max Levchin had an idea for starting Confinity which was an online transaction business. This is certainly not the most efficient way to conduct a business. The heavy traffic of sales and trade opportunities saw eBay’s users sending checks and money orders through snail mail to complete their purchases. At the time, heavy use of eBay was for collectible goods like limited edition Beanie Babies. The idea of online commerce wasn’t new, but the application of allowing third-party sales through auction and buy it now methods created the foundation of what would become the idea that created Amazon. Below is the timeline I created to show key historical events related to PayPal.Ĭhapter 1 – Sowing the seed (History of PayPal)ĮBay emerged as the king of e-commerce in the late 90s. To find that let us go to the history of what created PayPal and the DNA for success. It is the epitome of what I call product-led growth. ![]() In this blog, I am not going to talk in detail about the stock performance and maybe that is a topic for some other time but this blog is to specifically discuss what made PayPal a successful product company. As of Sept 2021, PayPal had 416M active customers, $1.2T in total payment volume for the last 12 months, and ~37k transactions per minute.Īfter separation from eBay, PayPal started trading again in 2015, their stock has given almost 4x returns to the shareholders, to date (with a peak return of ~ 8x in Sept 2021). The company’s payments platform allows consumers to send and receive payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, Hyperwallet, and iZettle products. ($PYPL) operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. PayPal build lasting brand value and loyalty through word-of-mouth referrals with smart targeting and creative rewards that add value to the consumer experience.PayPal Used a Double-Sided Reward Structure, which helped get millions of users in a matter of months.After separation from eBay, PayPal started trading again in 2015, their stock has given almost 4x returns to the shareholders, to date (with a peak return of ~ 8x).PayPal had 416M active customers, $1.2T in total payment volume for the last 12 months, and ~37k transactions per minute.
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