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Shares of the San Jose, California-based company were down nearly 6% after the update, which PayPal said "included incorrect information", sparked intense backlash on social media over the weekend.
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eBay, PayPal, Kijiji and StubHub, 500 King Street West, Toronto, April 2014. PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders.
PayPal went public on 15 February 2002 and was bought by eBay for $1.5 billion in October of that year. [39] Thiel remained CEO of the company until the sale. [5] His 3.7% stake in the company was worth $55 million at the time of acquisition. [40] In Silicon Valley circles, Thiel is colloquially referred to as the "Don of the PayPal Mafia". [41]
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Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2013. Venmo is aimed at users who wish to split their bills. Account holders can transfer funds to others via a mobile phone app; both the sender and receiver must live in the United States.