According to the Wall Street Journal, as of Friday, 13th October 2017, online payment platform, PayPal Holding’s market capitalization hit around $83 billion. With this, the platform is now valued at slightly more than American Express, which ended Friday’s trading session with a market capitalization of $82.1 billion. The company’s market capitalization has more than doubled from the $47 billion that it had when it split with eBay. PayPal is also striking new deals to open up its platform to others such as Facebook and Baidu.
Just like every other business, which didn’t just start as a big brand, Paypal has also had its fair share of the ups and downs that come with running a business. Founded in late 90’s by Elon Musk and a group of enthusiasts, PayPal is now recognized as the world’s largest online payment processor. In the chart of successfully growing businesses, PayPal rightfully occupies one of the top spots.
Paypal was founded in 1998 and between 2000 and 2002 it grew big enough to finally announce its entry to the charts of NASDAQ with $13 per share. Later, PayPal merged with eBay for an incredible $1.5 billion, becoming the only payment gateway for eBay users. The platform is now available in 203 markets and multiple currencies. It allows customers to hold balances, and deposit or withdraw their funds securely with full compliance and control over their financial data.
The company acquires different payment solutions to penetrate into the online retail market even further. Recently, they collaborated with MasterCard, leading to the inception of the Secure Card service. This decision alone generated a whopping $1.8 billion. The success story of PayPal has inspired many start-ups.
Nevertheless, if you still think that transactions can’t go beyond bank accounts, we strongly suggest taking a closer look at our infographic below. Facts and figures speak for themselves; a quick and simplified system is what you get by keeping up with times.
Below is an infographic that tells you the success story of Paypal. It also shows you how the company started, customers that use the platform, countries where it is used and countries where it is prohibited.