Xoom Corporation (also known as Xoom, a PayPal Service) is an electronic funds transfer and remittance provider.
Xoom Corporation was founded in 2001 by software developer Alan Braverman and entrepreneur Kevin Hartz, with its headquarters in San Francisco, California.
In June 2010, Xoom was included in a study by the Inter-American Dialogue of 79 remittance service providers, which evaluated consumer satisfaction.
In March 2011, and September 2012, Xoom was included in The Wall Street Journals annual "Next Big Thing List" list, which highlights venture-backed companies identified by the publication as notable emerging businesses.
In October 2012, a follow-up survey by the Inter-American Dialogue of 51 remittance service providers in the U.S. to Latin America market ranked Xoom among the top providers evaluated for fees and geographic reach.
On September 28, 2007, Xoom closed a first E-series round of financing for $20 million. Peter Thiel was among the early investors in the company. Xoom went public on February 15, 2013. In November 2015, PayPal acquired Xoom for $25 per share, a transaction valued at approximately $1.09 billion.