00:00He did a really good job running PayPal.
00:02But in 2015, eBay decided to spin off PayPal as its own independent company once again.
00:08By this point, PayPal was big enough and profitable enough to stand on its own two feet.
00:14It didn't need to be a subsidiary of eBay anymore.
00:18So in July of 2014, eBay announced that they would be spinning off PayPal as its own independent
00:25company once again.
00:26They filed the necessary paperwork with the SEC, and then they started telling investors
00:31that starting in mid-2015, they would be spinning off PayPal.
00:35And so, in 2015, PayPal became its own independent company once again.
00:40Don Shulman became the CEO of PayPal, and he is still the CEO of PayPal today.
00:47Under his leadership, PayPal has continued to grow.
00:50In fact, today, they are one of the largest payment processors in the world.
00:55They handle over $1 trillion worth of payments every single year.
00:59When PayPal was founded, the goal was to make it easy for people to pay each other over
01:04the internet.
01:05That's what XCOM and Confinity set out to do.
01:08They wanted to make it easy for people to send each other money.
01:11But over the years, PayPal has evolved into much more than just a simple payment processor.
01:17They have expanded into many different areas.
01:19For example, they offer a service called Venmo, which allows you to split bills with friends.
01:24They offer a service called Braintree, which allows businesses to accept credit cards and
01:30PayPal.
