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Wikipedia says that he founded X.com, which merged with Confinity, initially he became CEO and later Peter Thiel the founder of Confinity took over and the company was renamed to PayPal.



Yes, it's a bit confusing. Confinity created PayPal (roughly as we know it) before merging with X.com. X.com was a failed online bank and not really doing anything like PayPal's eBay stuff.

> Confinity launched its milestone product, PayPal, in late 1999.[1] Confinity merged with X.com, founded by Elon Musk, in March 2000. The merged company became known as X.com because this was thought to be a name with broader long-term potential than Confinity or PayPal. However, surveys showed that a majority of consumers considered the name X.com vague and potentially pornographic and preferred that the company simply be called PayPal. After a corporate restructuring, the company adopted the name PayPal Inc.

https://en.wikipedia.org/wiki/Confinity




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