Xoom Corporation
| Company type | Money transfer |
|---|---|
| Industry | Banking |
| Founded | 2001 |
| Founders | |
| Headquarters | San Francisco, California, U.S. |
| Services | Electronic funds transfer Remittance provider |
| Parent | PayPal (2015–present) |
| Website | xoom |
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 software developer Alan Braverman and entrepreneur Kevin Hartz, with its headquarters in San Francisco, California.[1][2]
In June 2010, Xoom was included in a study by the Inter-American Dialogue of 79 remittance service providers, which evaluated consumer satisfaction.[3]
In March 2011, and September 2012, Xoom was included in The Wall Street Journal's annual "Next Big Thing List" list, which highlights venture-backed companies identified by the publication as notable emerging businesses.[4][5]
In October 2012, a follow-up survey by the Inter-American Dialogue of 51 remittance service providers in the U.S. to Latin America market ranked Xoom among the top providers evaluated for fees and geographic reach.[6]
Funding and ownership
On September 28, 2007, Xoom closed a first E-series round of financing for $20 million. Peter Thiel was among the early investors in the company.[7] Xoom went public on February 15, 2013.[8] In November 2015, PayPal acquired Xoom for $25 per share, a transaction valued at approximately $1.09 billion.[9][10]
See also
- Sequoia Capital
- Xoom (web hosting), the original owner of xoom.com
References
- ^ "Sequoia Capital-Xoom". Sequoia Capital. Retrieved 10 February 2021.
- ^ Mac, Ryan (July 1, 2015). "PayPal To Acquire Digital Money Transfer Company Xoom Before eBay Split". Forbes. Retrieved November 26, 2024.
- ^ 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.
- ^ Debaise, Colleen (10 March 2011). "The Top 50 Venture-Backed Companies". The Wall Street Journal. Retrieved March 10, 2011.
- ^ 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.
- ^ 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.
- ^ Marshal, Matt (28 September 2007). "Xoom, money transfer site, raises $20M more". VentureBeat. Archived from the original on 1 January 2011. Retrieved January 15, 2011.
- ^ Eric Savitz (February 15, 2013). "Xoom IPO Prices At $16, Above Projected Range, Then Spikes". Forbes.
- ^ "PayPal Acquires Xoom for Stake in Digital Money Transfers". nytimes. Retrieved 1 July 2015.
- ^ "PayPal-Xoom Deal Now Official". pymnts.com. 2015-11-13. Retrieved 2016-06-07.
Further reading
- "Xoom Money Transfer: The Disruptor That Wasn't". SaveOnSend. August 28, 2019. Retrieved October 10, 2019.