The above graph represents PayPal annual revenue by region. PayPal’s net revenue in fiscal 2018, ended December 31, 2018, reached an all-time high of $15,451 million ($15.5 billion), globally. Interestingly, nearly 54% of PayPal’s total revenue in 2018 came from the United States. PayPal’s annual revenue from the US increased a significant 17.5% YoY, clocked $8,324 million ($8.3 billion) last year.
This is followed by the United Kingdom (U.K.) and other countries. PayPal recorded 18.3% YoY growth in its annual revenue from the United Kingdom for fiscal 2018, clocked $1,658 million ($1.7 billion). On the other hand, the revenue from Other Countries also increased a notable 19% YoY, reaching $5,469 million ($5.5 billion). However, in its 2018 annual report, PayPal said, no single country included in the “other countries” category generated more than 10% of total revenue.
Note: The net revenues of PayPal, attributed to the US, UK and other countries, are primarily based upon the country in which the merchant is located, or in the case of a cross-border transaction, may be earned from the country in which the consumer and the merchant respectively reside.
About PayPal: Additional Information!
Founded in December 1998 as Confinity Inc., by Max Levchin, Peter Thiel, Luke Nosek, and Ken Howery, PayPal Holding Inc. (NASDAQ: PYPL) was funded by John Malloy from BlurRun ventures.
However, it was March 2000, when Confinity merged with X.com, an online banking company founded by Elon Musk in November 1999. The visionary Musk was quick to visualise the future potential of the money transfer business Confinity was developing. In contrast to that, Bill Harris, the then-president and CEO of X.com, didn’t find much merit in Musk’s thoughts. Soon, Harris decided to part ways was Musk was determined to stay focused on Confinity money transfer service. He was so committed that he terminated the company’s all other Internet banking operations in order to remain focused on the money transfer business.
All these shifts created an impact on Elon Musk’s position in the company he was replaced by Peter Thiel as CEO of X.com. In the following year, the X.com was renamed as PayPal.
The astounding growth of PayPal convinced executives to launch the IPO of PayPal in 2002. After the celebrated acquisition by eBay Inc. (NASDAQ: EBAY) in July 2020 which valued PayPal $1.5 billion – 7% above the IPO price – it was clear that PayPal is en route to become a global leader in money transfer business.
After thirteen years of being under the umbrella of eBay, PayPal once again became an independent publicly traded company.
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