Confinity was a mobile payment security company that built PayPal and later merged with X.com.
Confinity was founded in December 1998 by Max Levchin, [Peter Thiel](/people/peter-thiel] and Luke Nosek. The company developed a product called Fieldlink as a Palm Pilot payments system. Early investors included Nokia Ventures, Deutsche Bank, and Bell Melton, the founder of CyberCash.
Confinity abandoned Fieldlink and launched its milestone product PayPal in late 1999 when David Sacks was hired as VP of Strategy. Confinity later merged with X.com, co-founded by Elon Musk, in March 2000 during the onset of the dot.com crash. The resulting business entity used the PayPal name going forward.
Past Team (4)Update
- 12/06/11 -techcrunch.com