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.
