Xoom Corporation, also
Xoom, a PayPal Service is a digital
money transfer or
remittance provider that allows consumers to send money, pay bills and reload mobile phones from the United States to 52 countries, including
China,
India,
Guyana,
Pakistan,
Mexico and the
Philippines. The company was founded in 2001, is based in
San Francisco, CA, and has an office in
Guatemala City, Guatemala. Xoom was an independent
publicly traded company and was initially backed by venture firms including
Sequoia Capital,
New Enterprise Associates,
SVB Capital, and
Fidelity Ventures.
[1] On July 1, 2015, PayPal announced that it intended to spend $25 a share in cash, or about $1.09 billion, to acquire Xoom Corporation.
[2] The deal closed in November 2015.
[3]
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