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what's up with this whole "X" rebranding? (lemmy.world)

submitted 1 year ago by nitefox@lemmy.world to c/outoftheloop@lemmy.world

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Is Musk competing with Zuck for the worst branding ever?

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[–] uniqueid198x@lemmy.dbzer0.com 70 points 1 year ago

Musk didn't found PayPal. X.com merged with Confinity, another online financial site (founded by Peter Thiel and others). Confinity had already begun development of PayPal at that time. In the resulting company, still called X.com, there was a series of leadership conflicts, with Musk pushing out CEO Bill Harris to become CEO, before himself being replaced by Peter Thiel. It was under Thiel that the company changed it's name to PayPal, and later went public. By the time there was a company called "PayPal", Musk was not longer involved with daily operations.