Xoom Corporation

Not to be confused with Zoom Corporation.
Xoom Corporation
Company typeMoney transfer
IndustryBanking
Founded2001; 23 years ago (2001)
Founders
HeadquartersSan Francisco, California,
U.S.
Serviceselectronic funds transfer
remittance provider
ParentPayPal (2015–present)
Websitexoom.com

Xoom Corporation (also known as Xoom, a PayPal Service) is an electronic funds transfer and remittance provider.

History

Xoom Corporation was founded in 2001 by Alan Braverman and Kevin Hartz,[1] with its headquarters in San Francisco, California.[2]

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.[3]

In March 2011, and in September 2012, Xoom was listed in The Wall Street Journal's annual "Next Big Thing List" list of the 50 most promising venture-backed companies.[4][5]

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.[6]

Funding and ownership

On September 28, 2007, Xoom closed a first E-series round of financing for $20 million. Peter Thiel was an early investor in Xoom Corporation.[7] Xoom went public on February 15, 2013.[8] In November 2015, PayPal acquired Xoom for $25 a share, to a total of about $1.09 billion.[9][10]

See also

References

  1. ^ Mac, Ryan (July 1, 2015). "PayPal To Acquire Digital Money Transfer Company Xoom Before eBay Split". Forbes. Retrieved November 26, 2024.
  2. ^ "Sequoia Capital-Xoom". Sequoia Capital. Retrieved 10 February 2021.
  3. ^ Orozco, Manuel (10 June 2010). "A Scorecard in the Market for Money Transfers: Trends in Competition in Latin America and the Caribbean". Inter-American Dialogue. Archived from the original on July 28, 2011. Retrieved January 14, 2011.
  4. ^ Debaise, Colleen (10 March 2011). "The Top 50 Venture-Backed Companies". The Wall Street Journal. Retrieved March 10, 2011.
  5. ^ Zoran, Basich (27 March 2012). "Looking for the 'Next Big Thing'? Ranking the Top 50 Start-Ups". The Wall Street Journal. Retrieved January 3, 2013.
  6. ^ Orozco, Manuel (24 October 2012). "The Market for Money Transfers: Ranking of Remittance Service Providers in Latin America and the Caribbean". Inter-American Dialogue. Archived from the original on December 3, 2013. Retrieved January 3, 2013.
  7. ^ Marshal, Matt (28 September 2007). "Xoom, money transfer site, raises $20M more". VentureBeat. Retrieved January 15, 2011.
  8. ^ Eric Savitz (February 15, 2013). "Xoom IPO Prices At $16, Above Projected Range, Then Spikes". Forbes.
  9. ^ "PayPal Acquires Xoom for Stake in Digital Money Transfers". nytimes. Retrieved 1 July 2015.
  10. ^ "PayPal-Xoom Deal Now Official". pymnts.com. 2015-11-13. Retrieved 2016-06-07.

Further reading