Xoom Corporation

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xoom.com
Subsidiary of PayPal
Traded as Part of NASDAQ: PYPL (Earlier: NASDAQ: XOOM)
Industry Remittances
Founded 2001
Founder Kevin Hartz, Alan Braverman
Headquarters San Francisco, California, United States
Key people
 Roelof Botha, (Chairman)
John Kunze, (CEO)
Products Financial services
Number of employees
 300+ (2015)
Parent PayPal
Slogan The easiest way to send money, reload phones and pay bills around the world.
Website https://www.xoom.com

Xoom Corporation, also Xoom, a PayPal Service is a leading digital money transfer or remittance provider that allows consumers to send money, pay bills and reload mobile phones from the United States to 41 countries, including China, India, Pakistan, Mexico and the Philippines. The company was founded in 2001, is based in San Francisco, CA, and has an office in Guatemala City, Guatemala. Xoom was an independent publicly traded company and was initially backed by venture firms including Sequoia Capital, New Enterprise Associates, SVB Capital, and Fidelity Ventures.[1] On July 1, 2015, PayPal announced that it will be spending $25 a share in cash, or about $1.09 billion, to acquire Xoom Corporation.[2]

Money Transfer Services

Xoom connects families and friends around the world through providing money transfer services. The company offers a fast, affordable and convenient way to securely send money, pay bills and reload phones through a mobile app, as well as a desktop and mobile site. Xoom sends money for cash pickup, home delivery or bank deposit to 33 countries.

Xoom Mobile Reload

Customers can use Xoom to recharge prepaid mobile phones in Mexico from Telcel, Movistar, Iusacel, Nextel and Unefon. Customer can send a phone load to the Philippines to Globe, Smart, and Sun phones. Additionally, they can recharge mobile phones in India to 11 different mobile phone carriers, including Aircel, Airtel, BSNL, Idea, Reliance, Tata Docomo and Vodafone. Xoom also offers mobile reload to 19 other countries: Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Jamaica, Nicaragua, Pakistan, Panama, Peru, Poland, Spain, Sri Lanka and Uruguay.

Xoom Bill Pay

Customers can use Xoom to pay electricity, telephone, gas, and more bills in Mexico, Central America and the Dominican Republic. In Mexico, consumers can use Xoom to pay bills directly at CFE, Telmex, gasNatural, and Gigacable; In Dominican Republic, pay bills at edeNorte, edeSur, edeEste, Claro, Orange, Viva, Tricom, and Wind. In El Salvador, pay bills at Claro, Coess, AES and Delsur. In Guatemala, pay bills at Eegsa, EnerGuate, Tigo, Claro and Telefonica. In Nicaragua, pay bills at Claro, Movistar, IBW and Enaoal.

Countries Served

With the Xoom bank deposit service, consumers can send money directly to bank accounts in Argentina, Australia, Bolivia, Brazil, Canada, Chile, China, Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, France, Germany, Guatemala, Honduras, India, Ireland, Italy, Jamaica, Mexico, Netherlands, Nicaragua, Pakistan, Panama, Peru, the Philippines, Poland, Sri Lanka, Spain, the United Kingdom, Uruguay and Vietnam.[3]

Xoom offers cash pickup service to the following countries (number of locations as of 1/3/2013): Argentina (50), Bolivia (937), Brazil (220), Chile, (172), Colombia (1,170), Costa Rica (211), Dominican Republic (899), Ecuador (1,026), El Salvador (1,156), Guatemala (9,416), Honduras (690), Jamaica (98), Mexico (15,190), Nicaragua (143), Peru (1,161), Philippines (13,643), Uruguay (861) and Vietnam (417).[3]

Home delivery services are offered to the Dominican Republic, the Philippines and Vietnam.[3]

Consumers pay for Xoom money transfers using funds from their U.S. bank account, credit card, or debit card. The money transfers are paid out in either U.S. dollars or in local currency.[3]

Banking, Money Transfer and Retail Partners

Xoom provides money transfer services to banks, money transfer companies, and retailers, banks in the following countries and regions.

Europe and North America - All banks in the following countries including those listed

Asia - All banks in the following countries including those listed

Latin America & Caribbean

Awards

Telly Awards

2014 Silver Award: Heroes de Blanco y Rojo, Olimpiadas Londres, Hispanic Category

2014 Bronze Award: Better Way's "Pony" Commercial, Hispanic Category

2014 Bronze Award: "Noong Unang Panahon” (“In The Olden Days”); Filipino-American Market CATEGORY: Regional TV & Multi-Market Cable - Financial Services (non-bank)

2014 Bronze Award: “No More Hooky;” Filipino-American Market CATEGORY: Local TV & Local Cable - Use of Humor

2014 Bronze Award: “No MoreHooky;” Filipino-American Market CATEGORY: Regional TV & Multi-Market Cable - Use of Humor

2013 Bronze Award: “Captain Xoom;” Filipino-American Market CATEGORY: Regional TV & Multi-Market

2012 Bronze Award: “Better Way;” Filipino-American Market CATEGORY: Regional TV & Multi-Market

Association of National Advertisers (ANA)

2012 ANA's Multicultural Excellence Awards, Grand Prize for Hispanic Category

Third Party Certifications

Xoom is certified by TRUSTe as a licensee of the TRUSTe® Privacy Seal Program, is an accredited business of the Better Business Bureau, and operates its website using the verified by Verisign seal.[3]

Funding

On September 28, 2007, Xoom closed a first E-series round of financing for $20 million.[5] On March 25, 2010, Xoom closed an F-series round of financing for $33 million.[6] The company went public on February 15, 2013.[7]

Industry Reviews

In June 2010, Xoom was cited in a study by the Inter-American Dialogue of 79 remittance service providers as having the "highest consumer satisfaction ratings in transparency of the fee, transparency of the foreign exchange, and value".[8]

In March 2011 and in September 2012, Xoom was listed in the Wall Street Journal's annual "Next Big Thing List" list of the 50 most promising venture backed companies.[9][10]

In October 2012, in a follow up survey by the Inter-American Dialogue of 51 remittance service providers for the US to Latin America market, Xoom received the top score, using a variety of factors including countries served, fees, FX, network, and inclusiveness.[11]

Acquisition by PayPal

On July 1, 2015, PayPal announced that it is acquiring Xoom corporation. PayPal will spend $25 a share in cash to acquire the publicly traded Xoom, or about $1.09 billion. The deal is expected to be closed in the fourth quarter of 2015. The move will strengthen PayPal’s international business, giving it access to Xoom’s 1.3 million active U.S. customers that sent about $7 billion in the 12 months ending on March 31 to people in 38 countries.

See also

References

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External links

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