Emerging Trends and Challenges
FTPartnersResearch-GlobalMoneyTransferTrends
FTPartnersResearch-GlobalMoneyTransferTrends
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
PayPal Acquires Xoom for $890 mm<br />
Xoom: Company Timeline<br />
2014: One time loss<br />
of $31 mm from<br />
impersonation-ofan-employee<br />
fraud<br />
2001: Xoom is<br />
founded by Kevin<br />
Hartz <strong>and</strong> Alan<br />
Braverman<br />
2002: Announced a<br />
relationship with PayPal,<br />
eBay <strong>and</strong> a Dominican<br />
Republic based<br />
remittance service to<br />
launch an international<br />
money transfer service to<br />
the Dominican Republic<br />
2007: Raises $20.3 mm<br />
from DAG Ventures,<br />
Fidelity Ventures, New<br />
Enterprise Associates<br />
<strong>and</strong> Sequoia Capital<br />
2011: $25.0 mm round<br />
from DAG Ventures,<br />
Fidelity Ventures, New<br />
Enterprise Associates,<br />
Sequoia Capital<br />
2015: Xoom acquired<br />
by PayPal for $890<br />
mm<br />
2001<br />
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015<br />
2003: Raises $0.8<br />
mm series A from<br />
Peter Thiel; Mr.<br />
Thiel joined the<br />
board of directors<br />
along with Keith<br />
Rabois, his former<br />
colleague at<br />
PayPal<br />
2006: Raises $15.0 mm<br />
from Fidelity Ventures,<br />
New Enterprise<br />
Associates, Sequoia<br />
<strong>and</strong> SVB Capital<br />
2009: $33.3 mm growth<br />
round from C2 Capital,<br />
DAG Ventures, Fidelity<br />
Ventures, Glynn<br />
Capital Management,<br />
New Enterprise<br />
Associates, Sequoia<br />
Capital<br />
2011: Xoom launches<br />
its mobile platform<br />
<strong>and</strong> partners with<br />
Walmart<br />
2013: Xoom<br />
goes public<br />
on the<br />
NASDAQ<br />
NASDAQ:XOOM<br />
2014: Acquires<br />
Blue Kite<br />
Source: Capital IQ, Wall Street Broker Research, Company website.<br />
79
Change language