PayPal’s net worth is a common subject among shareholders and among individuals looking for a potential investment. PayPal’s reputation and popularity stem from its ease of processing financial transactions. Knowing the worth of this company is one way to determine its growth and stability.
As of March 2022, its net worth was recorded as being over $130 billion. This is a significant improvement compared to its $51 billion net worth in 2021. PayPal has experienced a surge in users since it became public. It currently has over 300 million registered and active accounts that can receive and send funds in 25 different currencies.
Since PayPal is one of the most common online payment systems worldwide, you might be interested in its net worth. Whether you want to invest in the company or pique your curiosity, this article covers everything you need to know. Let’s dive right in.
What is PayPal?
Six individuals established Confinity, which later became PayPal, in December 1998. The company initially created security software for devices, but in 1999, it rebranded and became a money transfer service. The following year, Confinity merged with X.com, Elon Musk’s online bank.
Later that year, Musk terminated other internet money services and focused his energy on Confinity. Peter Theil replaced Elon Musk as the CEO of X.com. Later, the management changed X.com to PayPal, and the company went public in 2002.
After going public, the company generated over $60 million in revenue. Then, eBay bought it in October 2002. It became the most used payment method by eBay users.
To expand its financial business, PayPal acquired VeriSign in 2005. It also partnered with Mastercard to develop card services for its users. In 2008, it bought the Israel and Palo Alto based Fraud Sciences and Bill Me Later, an online payment company.
After expanding its position in the online market, PayPal moved its services offline, allowing users to make payments in physical stores. It bought several technology companies as well. This allowed PayPal to develop its products and mobile offerings further.
PayPal’s growth has earned it over twenty awards. The company won the Webby award for best financial service website in 2006 and the best workplace award in 2016. It also won the silver award for American business in 2018.
What is PayPal’s Net Worth
The net worth of PayPal in March 2022 is over $130 billion, resulting from online and offline users. It has a market capitalization value of over $98 billion. Also, its shares are valued at over $55 each.
PayPal is one of the largest financial companies headquartered in several countries. With the service it offers, it’s clear that there’ll still be an increase in its net worth.
Interested in finding out the net worth of other businesses? Check out all of our net worth articles.