Xoom Corporation (also known as Xoom, a PayPal Service) is an

electronic funds transfer Electronic funds transfer (EFT) is the transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems. The funds transfer process generally consists ...

and

remittance A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Money sent home by migrants competes ...

provider.

History

Xoom Corporation was founded in 2001 by Alan Braverman and Kevin Hartz, with its headquarters in

San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

, California. In June 2010, Xoom was cited in a study by the Inter-American Dialogue of 79 remittance service providers, as having amongst the highest consumer satisfaction ratings. In March 2011, and in September 2012, Xoom was listed in ''

The Wall Street Journal ''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...

''s annual "Next Big Thing List" list of the 50 most promising venture-backed companies. In October 2012, in a follow-up survey by the Inter-American Dialogue of 51 remittance service providers for the US to Latin America market, ranked Xoom top for fees charged and countries served.

Funding and ownership

On September 28, 2007, Xoom closed a first E-series round of financing for $20 million.

Peter Thiel Peter Andreas Thiel (; born 11 October 1967) is an American entrepreneur, venture capitalist, and political activist. A co-founder of PayPal, Palantir Technologies, and Founders Fund, he was the first outside investor in Facebook. According ...

was an early investor in Xoom Corporation. Xoom went public on February 15, 2013. In November 2015,

PayPal PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support E-commerce payment system, online money transfers; it serves as an electronic alter ...

acquired Xoom for $25 a share, to a total of about $1.09 billion.

References

External links

* {{Digital payment providers 2013 initial public offerings 2015 mergers and acquisitions American companies established in 2001 Companies based in San Francisco Financial services companies established in 2001 Financial services companies of the United States Online remittance providers PayPal Payment service providers

History

Funding and ownership

See also

References

Further reading

External links