Paypal is getting ready to be set free from Ebay and be a public entity again. This will be the second IPO for the company. Back in 2002 the company went public under the symbol PYPL.
Here is a look at the terms back in 2002 courtesy of Nasdaq.com
Company Overview
| Company Name | PAYPAL INC |
| Company Address | 1840 EMBARCADERO ROAD PALO ALTO, CA 94303 |
| Company Phone | 6502511100 |
| Company Website | www.paypal.com |
| CEO | Peter A. Thiel |
| Employees (as of 12/31/2001) | 618 |
| State of Inc | DE |
| Fiscal Year End | — |
| Status | Priced (2/15/2002) |
| Proposed Symbol | PYPL |
| Exchange | NASDAQ |
| Share Price | $13.00 |
| Shares Offered | 5,400,000 |
| Offer Amount | $70,200,000.00 |
| Total Expenses | $4,000,000.00 |
| Shares Over Alloted | 0 |
| Shareholder Shares Offered | — |
| Shares Outstanding | 59,832,452 |
| Lockup Period (days) | 180 |
| Lockup Expiration | 8/14/2002 |
| Quiet Period Expiration | 3/12/2002 |
| CIK | 0001103415 |
Company Description
PayPal enables any business or consumer with email to send and receive online payments securely, conveniently and cost-effectively. Our network builds on the existing financial infrastructure of bank accounts and credit cards to create a
global payment system. We deliver a product well suited
Read more: http://www.nasdaq.com/markets/ipos/company/paypal-inc-91149-15046#ixzz3eZpNqltJ
Along with the new IPO which does have a date set, the company has been using the spinoff to let people know they updated their terms. One problem for domain investors selling domain names and using Paypal has been no seller protection, to be fair there was no buyer protection either.
Paypal sent out an email that there will now be buyer protection on intangible goods and while providing no seller protection, they have laid out what a seller must do to have any chance to dispute a buyer claim.
Also, our purchase protection is now being extended to intangible items and services. You should be prepared to provide “compelling evidence” that you provided the intangible or virtual item or service, should a buyer dispute a transaction. Compelling evidence includes any evidence available to prove the buyer received the goods or services, or benefitted from the transaction. Examples include proof the buyer accessed your site or downloaded a file, and/or relevant portions of terms and conditions to which the buyer agreed. Although Purchase Protection will now extend coverage to buyers for intangible items, Seller Protection won’t apply to intangible items. However, having proper proof of delivery can help a seller win a buyer’s purchase protection claim.
will screenshots and emails do?
Wonder if Godaddy or any other reg will help in giving us support to show domains pushed to other peoples accounts that claim they never got it…THAT would be a HUGE HELP!
But if the Buyer is a real trickster he will simply say that is not his account.
I think both Ebay and Paypal are a crock of S*** . If you try selling on Ebay nowadays you get people who abuse the system and return items for no reason. Ebay return the money without even checking first with the seller that they have received the items back. This has happened to me twice. In the end Ebay gave me the money back and I then later also got the items back. I will no longer sell on Ebay (I will buy of course) and will no longer even contemplate allowing anyone to pay for anything using Paypal, it just is not safe any monger. Wire transfer or Escrow. Thats it.
Amen to that, brah!