PayPal was originally established by Max Levchin, Peter Thiel, and Luke Nosek in December 1998 as Confinity, a company that developed security software for handheld devices. In March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk.
After watching PayPal become the premier choice of Internet auction shoppers, online marketplace giant eBay acquired PayPal for $1.5 billion in October 2002, then in 2015 PayPal was spun off into an independent company, but it continued to be used by eBay.
While the companies history was often rocky it's effects will ripple for generations from the impact of it's early team, known as the PayPal mafia.
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