PayPal’s sales exceeded $10.8 billion in 2016 with an 14% increase in stock value and the company has further expanded its product offerings with the Venmo and Braintree brands both providing businesses with new PayPal payment systems. PayPal’s reach has also expanded with its Xoom branding that services 53 countries including 11 new areas just within this past year. The result of these combined efforts is PayPal, and the company took off with flying colors between 20 earning an entry onto the NASDAQ.Īlthough PayPal has seen a consistent 3% increase in customers each quarter for the last two years, the actual number of transactions has actually been growing faster that its customer base. Musk’s role involved a merger of his online banking company, X.com, with the founding team of Confinity.Ĭonfinity was launched back in the day of Palm Pilots as a way to utilize them for encrypted payments and the two companies together produced an entirely new money service industry. ![]() ![]() Musk was also part of the founding team for PayPal and continues to be a part of the company to this day. ![]() Most people are familiar with the name Elon Musk, an inventor and visionary, and notably the product architect of Tesla and Solar City.
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