If you’ve spent time online (and who hasn’t these days?) And made a payment through an online portal, you probably did through PayPal. It has been one of the mainstays of e-commerce payment platforms for a long time and it seems to stand the test of time too. Here we take a look at some facts about this internet giant.
How PayPal got it going public
In the beginning, PayPal grew rapidly. There have been plateaus since then, but in general it’s still on the rise. In the year 2000 alone, in fact some time ago, their user bases catapulted themselves from a million to fivefold. This strong growth prompted PayPal to publicly list itself in February 2002. And the company never really looked back.
Musk and men made it possible in Silicon Valley
Everyone welcomes Elon Musk and his cohort quartet Max Levchin, Ken Howery, Luke Nosek and Peter Thiel. You spearheaded PayPal in the merger of Confinity Inc and X.com. The merger made what we know today as PayPal effective. In particular, Thiel, Howery and Nosek also helped fund Facebook through their Founders Fund company.
You have also been involved in the investment opportunities around Yelp, LinkedIn, SpaceX, Spotify, and Airbnb. Musk, of course, is Tesla’s face. His electric car company plays a big role in sustainable energy. Musk is a smooth operator in and around Silicon Valley but owes a lot to the support of Levchin, Nosek and the others.
The many uses for PayPal
PayPal prides itself on its peer-to-peer service that obviously allows friends to pay each other for exchanges. In this day and age of increasing popularity of cryptocurrencies, PayPal can also be used to purchase Bitcoin. Of course there is also the donation (PayPal’s Giving Fund) and the company’s payment options.
And then in the iGaming world there are payment options like PayPal, which is particularly popular with sports betting in Australia and around the world for deposits and withdrawals. This can save the customer the inconvenience of making electronic transfers or having to top up their accounts with their credit cards. PayPal can also be used to pay for goods on Amazon and Ebay.
The fresh, blue face of PayPal
The PayPal logo you know today is not what it was when it started. The logo has seen a few changes over the years. What was left has been praised and criticized, and what has been introduced has generated the same mixed reactions.
Nowadays, the logo has cleaner font than before and more space between letters. In short, it’s more contemporary, more attractive, and ultimately more memorable. Customers certainly associate the brand with enjoyable e-commerce transactions, and a lot of that has to do with great service and the cool, calm, and collective color scheme of blue and white. The current version has been around since 2014, so it is probably time for another update.
Gosh, security is always an issue when dealing with financial transactions at companies trying to grow their customer base. PayPal has numerous anti-phishing measures and implementations that protect against hacking.
They are known for this and make sure that their customers’ safety is taken seriously. It is this type of trust factor, accumulated over many years and transactions, that puts it ahead of its competition and its contemporaries.
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