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From iA wiki
See also: Wealth Transference
Paypal is a company that mediates credit card payments between individuals (normally you need a "merchant account" to accept credit card payments). Very simple user interface, makes smart use of e-mail (you can paypal money "to" any e-mail address -- recipient gets a notice that he has received money but needs a Paypal account to pick it up - great incentive). New members get $5 for free, also referral program where people who refer users to Paypal get the $5.
- One million customers in April 2000
- IPO in February 2002
- Bought by eBay in July 2002