PYPL - Second Innings

PYPL being listed for the second time on NASDAQ

Seldom is the case that you open an account twice for the same purpose and that too at NASDAQ. But PayPal is different in this case too. Paypal has been listed now on NASDAQ two times in as many decades. The first time was in 2002 and the latter was just yesterday. The celebrations were full throttle in its global offices including offices Bangalore and Chennai.Paypal has 1300 employees in India offices alone which is 10% of their entire workforce. People from all offices witnessed the listing with the tradition that been carried from a long time at NASDAQ, ringing the bell.

After riding along with eBay for more than a decade, Paypal got listed on NASDAQ Jul 20 2015. The numbers were impressive on its second opening at NASDAQ, Paypal is valued at over $50 Billion, higher than its former parent company eBay.

Collage from Chennai Paypal Office

PayPal is well-positioned to deliver the benefits of digital money to people around the world.  In 2014, PayPal processed $235 billion in total payment volume and generated more than $8 billion in revenues. Also last year, PayPal processed $46 billion in mobile payment volume.  The company serves more than 169 million active customer accounts in 203 markets around the world.

Paypal India senior leadership team raising a toast

“As the world’s open, digital payments platform and most trusted and popular digital wallet, we are excited to celebrate our listing day and embark on our next chapter,” said Dan Schulman, President and Chief Executive Officer of PayPal. “Mobile technology is transforming payments, making it easier, safer and more affordable for people to move and manage their money than ever before. As an independent company, we see a tremendous opportunity for PayPal to expand our role as a champion for consumers and partner to merchants, and to help shape the industry as money becomes digital at an increasingly rapid pace.”

Schulman continued: “We are focused on leveraging our strengths to drive long-term growth for our company and shareholders. PayPal is unique. We have a singular focus on digital payments, deep commitment to customer service, a drive for innovation and a technology agnostic platform that creates value for our consumers and merchants online, in apps, and increasingly in stores.”

The moment of joy for Paypal - PYPL

We got a chance to interact with Dhruv Sawhney: General Manager – Bangalore Technology, PayPal India. And on a question of how Paypal is driving the technological ecosystem, he said the following. "As one of the world’s largest start-ups, PayPal is committed to the development of a technology ecosystem. We have technology expertise and want to share that with the community. We actively partner and provide technology mentorship to startups, developers, universities and local communities to share, enable and drive innovation."

Paypal India is a great place to work at. 

• Diversity: The workforce at Paypal is as diverse as its customer base. Paypal has reduced the gender gap and gets its women technologists to the forefront.
• Maternity support: Paypal realised that they tend to lose a significant number of women in the workforce once they get pregnant and have children. Paypal ensures that women feel encouraged and support them during the time with following benefits:

1. Flexible work arrangements
2. Cab rides for women in their third trimester to and fro the office 
3. Top Gynaecologist in-house to see to mothers’/ women’s needs. 

• Happiness Fun culture to inculcate innovation:

1. Spice Club
2. Afternoon socials
3. Buses
4. Diet Kitchen & gyms

About PayPal

Paypal puts people at the center of everything we do. Founded in 1998, they continue to be at the forefront of the digital payments revolution, last year they processed 4 billion payments, of which 1 billion were made on mobile devices. PayPal gives people better ways to connect to their money and to each other, helping them safely access and move their money and offering a choice of how they would like to pay or be paid. With their 169 million active customer accounts, they have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online, in stores and on mobile devices. PayPal is a truly global payments platform that is available to people in 203 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 57 currencies and hold balances in their PayPal accounts in 26 currencies. For more information on PayPal, visit about.paypal-corp.com. For PYPL financial information visit investor.paypal-corp.com.