Billpoint

In this article, we will explore Billpoint and all its implications. From its impact on society to its influence on people's daily lives, Billpoint is a topic that deserves to be analyzed and discussed in depth. Along these lines, we will discover the different perspectives that exist on Billpoint, as well as possible solutions or approaches to address this issue. It doesn't matter if you are an expert in the field or if it is the first time you are hearing about Billpoint, this article is designed to offer a complete and enriching vision of it. Get ready to immerse yourself in the fascinating world of Billpoint!
Billpoint
IndustryFinancial services
FoundedOctober 1998 (1998-10)
Founders
  • S. Young Lee
  • Hope Chen
  • Will Chen
  • Jason May
  • Ian Flint
  • Jay Shen
Defunct2003
SuccessoreBay
Headquarters
Redwood City, California, United States
Websitewww.billpoint.com

Billpoint was the name of a person-to-person money transfer service founded in 1998, and purchased in 1999 by online auctioneer eBay.

History

Billpoint was founded in 1998 by S. Young Lee, Hope Chen, Will Chen, Jason May, Ian Flint and Jay Shen, with headquarters in Redwood City, California. The company obtained venture funding from Sequoia Capital in February 1999, and later that year was purchased by eBay; its website was taken offline while integration into eBay's auction service took place. It reappeared in 2000 when it was relaunched as a joint venture with Wells Fargo bank.

During this interval, online payment service PayPal was launched, rapidly becoming popular with eBay's customers. Billpoint and eBay spent much of the next two years trying to overtake PayPal, but with mixed results.

In July 2002, eBay CEO Meg Whitman agreed to the acquisition of PayPal with its CEO Peter Thiel. When the deal was closed in October 2002, eBay began the process of phasing out Billpoint. The shutdown was completed in early 2003.

References

  1. ^ Beth Cox (December 16, 2002). "eBay Bidding Bye Bye to Billpoint". Internetnews.com. Archived from the original on December 17, 2002.
  2. ^ John Schneider (May 7, 2003). "Interview: Billpoint Founder Jason May on eBay, Open Source". WTN News. Archived from the original on October 21, 2013.
  3. ^ a b Eric M. Jackson (2006). The PayPal Wars: Battles with eBay, the Media, the Mafia, and the Rest of Planet Earth. World Ahead Publishing. ISBN 978-0-9778984-3-5.
  4. ^ a b Troy Wolverton (July 8, 2002). "Billpoint failure a lesson for eBay?". CNET News. Archived from the original on February 8, 2013.
  5. ^ Ina Steiner (December 16, 2002). "eBay to Phase Out Billpoint Online Payment Service". EcommerceBytes. Archived from the original on February 4, 2018.
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