Company:Xoom Corporation
 | |
| Type | Money transfer |
|---|---|
| Industry | Banking |
| Founded | 2001 |
| Headquarters | San Francisco , California, U.S. |
| Services | electronic funds transfer remittance provider |
| Parent | PayPal, Inc. |
| 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 and has its headquarters in San Francisco , California.[1]
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.[2]
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.[3][4]
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.[5]
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.[6]
Xoom went public on February 15, 2013.[7]
In November 2015, PayPal acquired Xoom Corporation for $25 a share, to a total of about $1.09 billion.[8][9]
See also
- Sequoia Capital
- Xoom (web hosting), the original owner of xoom.com
Further reading
- "Xoom Money Transfer: The Disruptor That Wasn't". SaveOnSend. August 28, 2019. https://www.saveonsend.com/blog/xoom-money-transfer/.
References
- ↑ "Sequoia Capital-Xoom". Sequoia Capital. https://www.sequoiacap.com/companies/xoom/.
- ↑ 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. http://www.thedialogue.org/page.cfm?pageID=32&pubID=2405.
- ↑ Debaise, Colleen (10 March 2011). "The Top 50 Venture-Backed Companies". Wall Street Journal. https://www.wsj.com/articles/SB10001424052748703300904576178673309577828.
- ↑ Zoran, Basich (27 March 2012). "Looking for the 'Next Big Thing'? Ranking the Top 50 Start-Ups". Wall Street Journal. https://www.wsj.com/articles/SB10000872396390444813104578018940187057924.
- ↑ Orozco, Manuel (24 October 2012). "The Market for Money Transfers: Ranking of Remittance Service Providers in Latin America and the Caribbean". Inter-American Dialogue. http://www.thedialogue.org/page.cfm?pageID=32&pubID=3171.
- ↑ Marshal, Matt (28 September 2007). "Xoom, money transfer site, raises $20M more". VentureBeat. https://venturebeat.com/2007/09/28/xoom-money-transfer-site-raises-20m-more.
- ↑ Eric Savitz (February 15, 2013). "Xoom IPO Prices At $16, Above Projected Range, Then Spikes". Forbes. https://www.forbes.com/sites/ericsavitz/2013/02/15/xoom-initial-offering-prices-at-16-above-projected-range/.
- ↑ "PayPal Acquires Xoom for Stake in Digital Money Transfers". nytimes. https://www.nytimes.com/2015/07/02/business/paypal-acquires-xoom-for-stake-in-digital-money-transfers.html.
- ↑ "PayPal-Xoom Deal Now Official". pymnts.com. 2015-11-13. http://www.pymnts.com/news/2015/paypal-xoom-deal-now-official/.
External links
Online remittance providers | |
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