Beautifully engraved SCARCE Certificate from the Paypal
. This historic document was printed by the American Banknote Company and has an
ornate border around it with a vignette of the company's logo. This item has the printed signatures of the company's officers ( Peter A. Thiel as CEO ).
According to Paypal Press Releases
PayPal is a quick and easy way for businesses and entrepreneurs to accept credit card payments online, and a popular way for people to send money to each other on the Internet. PayPal enables any business or consumer with an email address to securely, conveniently, and cost-effectively send and receive these payments.
The PayPal network extends the existing financial infrastructure of bank accounts and credit cards and creates a global payment solution. PayPal products are ideally suited for small businesses, online merchants, individuals and others currently undeserved by traditional payment mechanisms.
On October 3, 2002, eBay Inc., the world's online marketplace completed its previously announced acquisition of PayPal, Inc. (Nasdaq:PYPL) (www.paypal.com), the global payments platform. Peter Thiel announced that he has resigned as PayPal's CEO. Matt Bannick, eBay's senior vice president, global online payments, will assume all of Thiel's responsibilities.
In accordance with the terms of the transaction as announced on July 8, 2002, eBay acquired all of the outstanding shares of PayPal in a tax-free, stock-for-stock transaction using a fixed exchange ratio of 0.39 of an eBay share for each PayPal share. Based on eBay's average closing stock price over the period two days before and after the acquisition was announced, the transaction is valued at approximately $1.5 billion. According to current estimates, the recognized purchase price is also expected to include approximately $17 million for acquisition-related costs.
As the company previously announced, PayPal will continue to operate as an independent brand. eBay's current payment service, eBay Payments by Billpoint, will complete the phase-out of its operations in the first half of 2003. PayPal's gaming business will be phased out by the end of 2002.
eBay is the world's online marketplace(TM). Founded in 1995, eBay created a powerful platform for the sale of goods and services by a passionate community of individuals and businesses. On any given day, there are millions of items across thousands of categories for sale on eBay through auction or fixed price formats. eBay enables trade on a local, national and international basis with customized sites in markets around the world.
PayPal enables any business or consumer with email to send and receive Internet payments securely, conveniently and cost-effectively. PayPal's network builds on the existing financial infrastructure of bank accounts and credit cards to create a global payment system. Based in Mountain View, California, PayPal is available to users in 38 countries including the United States.