Xoom Corporation
 | |
| Company 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
[edit]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
[edit]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 for $25 a share, to a total of about $1.09 billion.[8][9]
See also
[edit]- Sequoia Capital
- Xoom (web hosting), the original owner of xoom.com
References
[edit]- ^ "Sequoia Capital-Xoom". Sequoia Capital. Retrieved 10 February 2021.
- ^ 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. 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
[edit]- "Xoom Money Transfer: The Disruptor That Wasn't". SaveOnSend. August 28, 2019. Retrieved October 10, 2019.
External links
[edit]Online remittance providers | |
|---|---|
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