If you have made any online payments during the last 10 years, you have probably been offered to checkout with PayPal. PayPal is the most powerful and popular payment gateway in the world available in 202 countries.
Experts from Play-N-Play prepared interesting facts about PayPal. Meanwhile, we will cover the most interesting ones below.
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1. PayPal started with a failure
Hard to believe that in 1999, the PayPal idea was voted as the worst idea of the year. Well, at that time it was not PayPal but another company, Confinity Inc that failed spectacularly.
2. Paypal and eBay: beneficial relationship
You may have heard of PayPal and eBay’s peculiar relationship. It all started in 2000 when PayPal’s founders first met eBay, and it took about 2 years for the newly issued company to go public. Soon after, PayPal’s stock grew considerably and in 2002, eBay bought PayPal for a $1.5 billion deal. They grew together until 2015, when PayPal spun off again.
3. Cyber Monday
A significant moment in PayPal’s history was the Cyber Monday of 2015 when the company had 450 transactions per second, 1.6 million transaction per hour. Quite huge, isn’t it?
4. Highest growth rate
PayPal is an undisputable market leader with 82.3% of market share and the highest growth rate among all online payment companies. The number is around 10-15%, just compare that to 2-3% from the others.
5. Leave college, get $100K from PayPal
The founder of PayPal Peter Thiel gives $100K fellowship to 20-year-olds, who leave college and start developing and working on their own ideas.
6. PayPal Mafia
The initial founders are known as a PayPal Mafia: Ken Howery, Luke Nosek, Max Levchin, Peter Thiel and Elon Musk. The group split after eBay bought PayPal.