Find Out PayPal’s Net Worth in 2022 and More on Assets, Income, Revenue and Founders Ratios
On this page, you can check PayPal’s Net Worth, History, Assets, Income, Liabilities, Net Income, Total Employees, and a lot more information. In the world of online money transactions, PayPal is a well-known corporation. It is an American global financial corporation with a $109.9 billion projected net worth for 2022. It serves as a middleman for users to receive and send money online. People must be aware of those who utilize the online payment application since it is one of the top businesses in this sector.
The majority of the clients this business serves are the suppliers who give their customers the products or services. In 1998, PayPal began operating in this sector as an entirely owned subsidiary of eBay. But as of 2015, PayPal has separated from its parent firm. Since Covid-19, when people began to utilize PayPal as a form of payment, especially for those who do international transitions, the service has grown significantly in popularity.
Nearly all of the nations that use the internet payment system can use its services. The biggest American corporation in terms of sales in 2022 is also listed at number 143 on the Fortune 500, so this business is now in your mind when it comes to payments. Check out the net worths of Apple and Facebook as well.
Particularly following the Covid-1, PayPal has been shown tremendous growth within the business. The epidemic has aided the company’s revenue expansion. In 2022, PayPal’s net value reached $109.9 billion. The business reported $2.459 billion in profits and $17.772 billion in total yearly revenue in 2019.
In 2020, this number increased and generated $21.454 billion in revenue overall. The cost of one share of the company’s stock has recently fluctuated between $91.63 and $308, reaching $308 in 2021. In 2022, the company’s entire market value is expected to be $105.97 billion. In the following years, it is anticipated that its net worth will rise.
Confinity, the company Max Levchin, Peter Thiel, and Luke Nosek founded in 1998, was the predecessor to PayPal. It recently joined with an organization called X.com, which was formed by Christopher Payne, Harris Fricker, and Elon Musk. Elon Musk and other team members changed the name to PayPal in the year 2001. In 2002, the business held its initial public offering (IPO) and raised $61 million at a price of $13 per share. This was the business’s first public funding.
An electronic replacement for conventional paper methods like checks and money orders, PayPal Holdings, Inc. is an American multinational financial technology firm that operates an online payments system in most countries that permit online money transfers. The business processes payments for internet retailers, auction sites, and several other business users for a fee.
Confinity, the company that founded PayPal in 1998, changed its name to PayPal in 2002. Later that year, it was acquired by eBay and was given a $1.5 billion valuation. 2015 saw eBay spin out PayPal to its stockholders, restoring PayPal’s independence. According to revenue, the company was rated 143rd on the 2022 Fortune 500 list of the largest American corporations.
History of PayPal
In December 1998, Max Levchin, Peter Thiel, and Luke Nosek founded Confinity, a business that produced security software for portable electronic devices. But after failing with that commercial strategy, it shifted its attention to a digital wallet. In 1999, the PayPal electronic payments system debuted in its initial iteration.
eBay Affiliate (2002–2014)
On October 3, 2002, a few time after PayPal’s initial public offering, eBay purchased the company for $1.5 billion in eBay stock.
PayPal payments were accepted in more than 70% of all eBay auctions, and almost 1 in 4 closed auction listings had PayPal transactions. The service competed with Google Checkout, Citibank’s c2it, YahooPayDirect, !’s and eBay subsidiary Billpoint in addition to becoming the default payment method for the majority of eBay users.
In order to add more security protection, PayPal purchased the VeriSign payment service in 2005.
In 2007, PayPal and MasterCard announced a cooperation that resulted in the creation and introduction of the PayPal Secure Card service, a program that enables users to make purchases on websites that do not directly accept PayPal. The corporation made $1.8 billion in sales by the end of 2007.
PayPal paid $169 million in January 2008 to acquire Fraud Sciences, a privately held Israeli start-up that created online risk solutions.
An online transactional credit provider called Bill Me Later was purchased by the business in November 2008.
In 190 markets and 25 different currencies, PayPal had over 100 million active user accounts by the year 2010.
14 alleged members of the hacktivist collective Anonymous were accused of trying to interfere with PayPal’s business operations in July 2011. After PayPal stopped accepting donations for WikiLeaks in December 2010, denial of service attacks started to occur. 13 of the PayPal 14 admitted admission to felony and misdemeanor charges relating to the attacks on December 5, 2013.
The business kept expanding its Merchant Services section, which offers online payments to eBay sellers. PayPal said in 2011 that it would start transferring its operations offline so that users could use PayPal to make purchases in physical establishments. PayPal payments can now be made at any of the 7 million stores in the Discover Card network, according to a collaboration the two companies announced in August 2012. The total amount of payments processed by PayPal by the end of 2012 was US$145 billion. and generated US$1.37 billion, or 40% of eBay’s total income, in the third quarter of 2012.
In order to advance product development and mobile services, PayPal purchased Braintree, a Chicago-based payment gateway, and IronPearl, a Palo Alto business that provides engagement software.
David Marcus, who joined PayPal in August 2011 when the company acquired Zong, the company he founded and served as CEO of, announced his resignation from his position as PayPal President in June 2014. Scott Thompson, who left the position to join Yahoo, was replaced as president by David Marcus. Dan Schulman, who formerly held the positions of CEO of Virgin Mobile and Executive vice president of American Express, was named as Marcus’ successor by PayPal.
Division of eBay (2014–present)
On September 30, 2014, it was revealed that eBay would spin off PayPal into a different publicly traded business, as dissident hedge fund tycoon Carl Icahn had urged in 2013. On July 18, 2015, the spin-off was finished. The company’s current president and CEO is Dan Schulman, and John Donahoe, a former CEO of eBay, serves as chairman. eBay said on January 31, 2018, that “PayPal will continue to be a payment option for buyers on eBay when the current eBay-PayPal partnership expires in 2020, but it won’t be as prominently displayed before debit and credit card alternatives as it is now. At that point, PayPal will stop handling card payments for eBay.” Instead, the business will “start working with Adyen, based in Amsterdam.”
PayPal announced on July 1, 2015, that it was buying Xoom Corporation, a provider of electronic money transfers. For roughly $1.09 billion, or $25 per share in cash, PayPal purchased the publicly traded Xoom. In the final quarter of 2015, the transaction was completed. The action boosted PayPal’s global operations by giving it access to 1.3 million active U.S. users of Xoom who sent roughly $7 billion in the last year ending on March 31 to persons in 37 other countries.
After PayPal began to expand quickly, eBay paid a sum to acquire it in 2002, acquiring a stake of more than 70%. Then, eBay started accepting this payment as the standard way of payment. By 2010, PayPal had amassed a sizable customer base of more than 100 million members across 25 different countries, and it later went independent.
Since becoming a Confinity company in 1998, PayPal had expanded significantly. Additionally, it merged with X.com, another business. It was also acquired by eBay in 2013, but following Paypal’s enormous success, it broke away from eBay and went independent in 2015. The corporation has undergone many modifications thanks to the board of directors. It purchased another business called Xoom Corporation in the year 2015. The business has created “PayPal.Me,” a smart feature in Paypal that allows users to request payments via text or email. This functionality has also been valued by Paypal users.
Several businesses opted to pay $2.2 billion to acquire iZettle, one of the top payment processors, in 2018 in order to grow their operations. The business made its first ever international acquisition with it. 2020 saw the corporation pay $4 billion to purchase Honey, another enormous player in this industry. Paidy was purchased most recently by the business for $2.7 billion. That is how Paypal has changed during the years that it has operated in this sector.
PayPal: Recognition and Success
Since entering the online money transfer market, PayPal has undergone significant development. This program is often used, and users are complimentary of the platform. Over the years, it has achieved a lot and won numerous accolades in this field. It recently rose to position 143 on the Fortune 500 for 2022.
According to a Morning Consult survey from the year 20221, Paypal is the second most trusted brand worldwide. It has won more than 20 accolades from the corporate world and the internet industry. Paypal has made a number of notable distinctions in this sector throughout the years.
PayPal Revenue 2022
PayPal Revenue for the quarter ending June 30, 2022 was $6.806 Billion
PayPal Revenue for the twelve months ending June 30, 2022 was $26.389 Billion
PayPal Annual revenue for 2021 was $25.371 Billion
PayPal Annual revenue for 2020 was $21.454 Billion
PayPal Annual revenue for 2019 was $17.772 Billion
|PayPal Revenue||Millions of US $|
PayPal Net Income 2022
PayPal Net income for the quarter ending June 30, 2022 was $-0.341 Billion
PayPal Net income for the twelve months ending June 30, 2022 was $2.056 Billion
PayPal Annual net income for 2021 was $4.169 Billion
PayPal Annual net income for 2020 was $4.202 Billion
PayPal Annual net income for 2019 was $2.459 Billion
|PayPal Net Income||Millions of US $|
PayPal Assets 2022
PayPal Total assets for the quarter ending June 30, 2022 were $77.810 Billion
PayPal Total assets for 2021 were $75.803 Billion
PayPal Total assets for 2020 were $70.379 Billion
PayPal Total assets for 2019 were $51.333 Billion
|PayPal Assets||Millions of US $|
|Net Worth 2022||$109.9 Billion|
|Net Worth in Indian Rupees||Rs. 8.93 Lakh Crore|
|Net Income:||$2,056 Million|
|Founders:||Peter Thiel, Max Levchin, Ken Howery, Luke Nosek, Yu Pan|
|CEO||Dan Schulman ( Jul 2015– )|
|Headquarters:||San Jose, California, United States|
|Founded:||December 1998, Palo Alto, California, United States|
|Number of employees||30,900 (2021)|
|Number of locations||29|
|Subsidiaries:||Xoom Corporation, Braintree, Zettle by PayPal, Paidy, MORE|