Xoom Corporation

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Xoom Corporation
TypeMoney transfer
IndustryBanking
Founded2001 (2001)
HeadquartersSan Francisco, California,
U.S.
Serviceselectronic funds transfer
remittance provider
ParentPayPal, Inc.

Xoom Corporation, also Xoom, a PayPal Service is an electronic funds transfer or remittance provider that allows consumers to send money, pay bills and reload mobile phones from the United States and Canada to 131 countries.

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 the 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]

On March 25, 2010, Xoom closed an F-series round of financing for $33 million.[7]

Xoom went public on February 15, 2013.[8]

In November 2015, PayPal acquired Xoom Corporation for $25 a share, to a total of about $1.09 billion.[9][10]

See also[edit]

Further reading[edit]

  • "Xoom Money Transfer: The Disruptor That Wasn't". SaveOnSend. August 28, 2019. Retrieved October 10, 2019.

References[edit]

  1. ^ "Sequoia Capital-Xoom". Sequoia Capital. Retrieved 10 February 2021.
  2. ^ 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.
  3. ^ Debaise, Colleen (10 March 2011). "The Top 50 Venture-Backed Companies". Wall Street Journal. Retrieved March 10, 2011.
  4. ^ Zoran, Basich (27 March 2012). "Looking for the 'Next Big Thing'? Ranking the Top 50 Start-Ups". Wall Street Journal. Retrieved January 3, 2013.
  5. ^ 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.
  6. ^ Marshal, Matt (28 September 2007). "Xoom, money transfer site, raises $20M more". VentureBeat. Retrieved January 15, 2011.
  7. ^ "Sequioia Capital". Techcrunch. 25 March 2010. Retrieved January 3, 2013.
  8. ^ Eric Savitz (February 15, 2013). "Xoom IPO Prices At $16, Above Projected Range, Then Spikes". Forbes.
  9. ^ "PayPal Acquires Xoom for Stake in Digital Money Transfers". nytimes. Retrieved 1 July 2015.
  10. ^ "PayPal-Xoom Deal Now Official". pymnts.com. 2015-11-13. Retrieved 2016-06-07.

External links[edit]