PayPal was originally a money transfer service offered by ‘Confinity’. X.com acquired it in 1999. Later again X.com was renamed as PayPal. eBay was acquired by PayPal in 2002. As adjusting to the corporate culture of eBay was difficult, so few employees left the company. The term PayPal mafia refers to the group of former PayPal employees who have developed and found a number of technology companies. Here are some successful companies which were started by PayPal Mafia.
1. LinkedinIts headquarters is located in Mountain View, California. It has a market capitalization of over $20 billion.
2. YouTubeIt is a popular social video sharing website. It was sold to Google in 2006 for $1.65 billion. It is the driving force for online video content.
3. Tesla MotorsIt is an electric car manufacturer. It has a market capitalization of over $27 billion.
4. YelpIt is an online review site for cafes, restaurants and other local businesses and sites.
5. SpaceXVehicles such as the Falcon9 have been built and designed by it. It is a private company for space-exploration.
6. GeniIt is a social networking site with a basis on genealogy discoveries. It was acquired in 2012 by MyHeritage.
7. YammerIt is a social enterprise software company. It was acquired by Microsoft in 2013 for over $1 billion.
8. SlideThe photo sharing tool for several social media sites such as Myspace. It was acquired in 2010 by Google.
9. CapLinkedIt is a SaaS platform for workflow optimization and online business collaboration.
10. Palantir TechnologiesIt is a private computer software company. It mainly provides data analysis services. It has an estimated worth of billions of dollars.
The new companies have definitely reached heights of success and are expected to reach even greater heights in the near future.