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The Complete Story of PayPal – These Authors Tell All

October 24, 2019 2119 views

A Collection of Articles Tell The Story of PayPal

This post contains an abundant collection of hand-picked articles that reveal the whole story of Paypal! But first, a brief introduction before you get to the article section

Introduction:

In 1999 PayPal was voted one of the worst business ideas. Looking at it today, processing over three hundred million dollars and around five million transactions each day, plus 72% of online shoppers in the United States having a PayPal account, no one today can say this was a bad idea!

It was December of 1998 in Palo Alto California, that PayPal originally called “X,” was founded by six talented individuals; Max Levchin, Peter Thiel, Luke Nosek, Ken Howery, Yu Pan, and Russel Simmons.

Today, in North America, the company employs around 13,000 people. The company had a net income of over two billion US dollars in 2019.

From 100,000 to 286 million users, here’s how that started.

A brilliant marketing campaign gave the company a huge boost. It cost the company between 60-70 million dollars, which allowed them to acquire 100,000 customers the month they launched the site. The campaign consisted of giving every new signup a small cash reward and if you referred a friend you would also get a referral fee.

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