CC BY-SA 4.0 ↗
PayPal Headquarters Sign, San Jose
- Year
- 2002
- Creator
- Peter Thiel, Max Levchin, Luke Nosek, Elon Musk
- Company
- PayPal (eBay subsidiary from 2002)
- Location
- 2211 North First Street, San Jose, California
- Room
- The Rebuild ↗
Description
This sign with the PayPal logo stands in front of the PayPal headquarters at 2211 North First Street in San Jose. PayPal is a service that lets people send money by email and pay online.
Importance
PayPal started its money transfer service in 1999 and sold its stock to the public in February 2002, after the dot-com crash. In July 2002, eBay agreed to buy PayPal for approximately $1.5 billion in stock, and the purchase closed on October 3. Former PayPal employees later started LinkedIn, YouTube, Yammer, Palantir, and SpaceX, and they made early investments in Facebook.
Interesting fact
eBay paid for PayPal only with its own stock, at 0.39 of an eBay share for each PayPal share.
Acquisition
eBay · 2002 · $1,500,000,000
Sources
- eBay buys PayPal for $1.5 billion ↗CNN · 2002-07-08
- eBay Completes PayPal Acquisition (Form 8-K, Exhibit 99.1) ↗U.S. Securities and Exchange Commission · 2002-10-03
- PayPal ↗Acquired (podcast)
- PayPal Holdings, Inc. company filings and business address ↗U.S. Securities and Exchange Commission (EDGAR) · 2026