PayPal
PayPal is an online payments company co-founded by Peter Thiel and Elon Musk, born from a 1998 conversation between Thiel and programmer Max Levchin over smoothies in Palo Alto about building a simple, unified e-commerce payment system . The company went public in 2002 and was acquired by eBay shortly after for $1.5 billion, a deal that netted Thiel $55 million personally . Its early team became known as the "PayPal Mafia," a network of founders who went on to shape much of Silicon Valley — Thiel himself later funded Facebook's first outside capital and co-founded Palantir, while other alumni scattered into influential roles across the tech industry . In the competitive landscape, PayPal has since faced generational challengers like Stripe .
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Coverage
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