Who is the owner of PayPal?
PayPal is a public company owned by its shareholders, but its ownership history is more eventful than that simple answer suggests.
The company traces its roots to 1999, when Elon Musk founded the online payments startup X.com, while Peter Thiel, Luke Nosek, and Max Levchin were building a similar service called Confinity. The two companies later merged, with Musk exiting before the end of 2000. Confinity was renamed PayPal and went public on the Nasdaq in February 2002, with shares jumping 50% on the first day of trading.
PayPal didn’t stay public for long. Just months after its IPO, eBay (EBAY +2.55%) acquired the company for $1.5 billion and took it private, relying heavily on PayPal to power its checkout experience. Over time, PayPal expanded beyond eBay, added services like Venmo, and ultimately spun off as an independent public company again in 2015.