PayPal Mafia is the network of individuals who created the most popular payment processing service business PayPal. This company has been at the forefront of online e-commerce since its inception. These people are largely behind many of the most successful businesses that exist today, including trillion dollar ones. PayPal has a very simple but powerful system of payment processing and PayPal Mafia members have mastered the art of PayPal web site design. PayPal web sites are always the most secure on the internet as well as the most popular.
PayPal Mafia was formed back in the early days of the Internet. PayPal was formed by PayPal co-founder, PayPal Peter Thiel. PayPal invented PayPal as a way to make online payments faster and more efficiently than ever before. PayPal was originally started to service online merchants and vendors but gradually the focus turned to the customer and ultimately the mass market. PayPal was sold to Citibank in August of 2005 for around five hundred million dollars.
PayPal has grown into one of the largest and most profitable companies in the world. PayPal is one of the first companies to offer an internet credit card system. PayPal also was the first company to offer a debit card. PayPal was founded by executives who were former employees of PayPal. PayPal was created by executives who were former employees of PayPal.
PayPal was sold to Citibank after two years of being in business. PayPal became a payment services company, offering merchant accounts and later a debit card system. PayPal was founded by PayPal entrepreneurs PayPal Peter Thiel, Luke Nosek, and PayPal CEO Jack disse. PayPal was sold to Citibank by former chief executive PayPal, who stepped down from the company in the early stages of its development. PayPal did not, however, become a social network company or develop a blogging program like Facebook.
PayPal is the largest shareholder in the company which is controlled by the two founders, PayPal founder and CEO PayPal, and investor/activist Investor PayPal co-founder and former CFO Investor PayPal, Nosek, are the two largest shareholders. Investor PayPal is the largest shareholder of PayPal which trades publicly on the New York Stock Exchange. Current management is headed by John Sniderman, who is the CFO of PayPal. PayPal is also the largest recipient of public investor equity, having received over $75 million. PayPal's revenues are primarily driven by the company's merchant account processing fees.
eBay, one of the largest eCommerce sites in the world was founded by PayPal. PayPal was one of the first Internet companies to provide integrated payment processing and a digital wallet solution to enhance buyer security. PayPal was one of the first Internet companies to use real-time data syncing to reduce the delay that buyers experience when purchasing items through eBay. PayPal was also one of the first eCommerce sites to provide online seller tools that help sellers manage listings, increase sales and drive more customers to their sites. PayPal was also one of the first eCommerce sites to incorporate its PayPal functionality into its web browsing tools, allowing users to pay for products they have purchased online.
PayPal was created by two PayPal former employees Albert Perrie and John PayPal who left the company in 1996 and later founded PayPal while working at Atari. PayPal was sold to eBay for a staggering valuation of more than six hundred million dollars. PayPal was sold to PayDotCom for approximately seventy million dollars. PayPal was also sold to Metacafe for approximately sixty million dollars.
PayPal is owned by eBay and has a market value of over six billion dollars. PayPal is now involved in many internet-related businesses and is currently under contract to work with the Chinese government to provide eCommerce functions to China-based companies. PayPal is currently working on a series of acquisitions and investments in technology and other ventures including a new mobile phone application in China. This venture capital firm sequoia capital firm will be releasing PayPal Inc's second annual report later this year.