What was PayPal called when it was founded in December 1998?

PayPal was called Confinity when it was founded in December 1998.

Confinity was established by Max Levchin, Peter Thiel, and Luke Nosek. The company initially developed security software for handheld devices, but it soon shifted its focus toward digital payments. Its early payment service enabled users to send money using email addresses and online accounts.

In March 2000, Confinity merged with X.com, an online banking company founded by Elon Musk. X.com later concentrated on the payment business and adopted the PayPal name in 2001. PayPal then became one of the best-known internet payment services.

A common mix-up is treating X.com as PayPal’s original corporate name. X.com was the name of the merged company after the 2000 combination, while Confinity was the earlier company that developed the payment service. PayPal became a public company in 2002 and was acquired by eBay later that year.