PayPal to acquire a company that facilitates the digital transfer of money internationally.
7 July 2015, 06:11
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PayPal President Dan Schulman was quoted saying that expanding into
international money transfer and remittances aligns with their strategic
vision to democratize the movement and management of money. He added
that acquiring Xoom allows PayPal to offer a broader range of services
to the global customer base.
Founded in 2001 by PayPal investor Kevin Hartz and serial entrepreneur Alan Braverman, the company went public in 2013. Xoom President and CEO John Kunze admitted that becoming part of PayPal represents an exciting new chapter for Xoom, which will help accelerate their time-to-market in unserved geographies.
Additionally, this will deliver a strong technology platform as Xoom’s compelling and reliable technology platform and consumer experience are coupled with its excellent customer service. Reacting on the acquisition Schulman said that he is excited to announce that PayPal is ready to make another area of payments better for people around the world.
Founded in 2001 by PayPal investor Kevin Hartz and serial entrepreneur Alan Braverman, the company went public in 2013. Xoom President and CEO John Kunze admitted that becoming part of PayPal represents an exciting new chapter for Xoom, which will help accelerate their time-to-market in unserved geographies.
Additionally, this will deliver a strong technology platform as Xoom’s compelling and reliable technology platform and consumer experience are coupled with its excellent customer service. Reacting on the acquisition Schulman said that he is excited to announce that PayPal is ready to make another area of payments better for people around the world.
