It is not often that you hear of a college dropout starting a multi-billion dollar company, but Peter Thiel is one such example. At the ripe age of 16, Peter dropped out of Stanford and founded PayPal in 1998. But how did he make it so big? How did an idea become a reality? This blog post will explore the story behind PayPal from its inception until now and how a college dropout became an iconic figure in the world of technology. Read on to learn more about this incredible journey and the lessons we can learn from it along the way.
The Early Life of PayPal Founder Max Levchin
Max Levchin was born in Kiev, Ukraine in 1975. When he was two years old, his family immigrated to the United States, settling in Chicago. From a young age, Levchin was interested in computers and how they worked. He taught himself to program and by the time he was in high school, he had started his own software company. owner of paypal
After high school, Levchin enrolled at the University of Illinois at Urbana-Champaign. However, he dropped out after just two years to pursue his entrepreneurial dreams. In 1998, he co-founded PayPal with Peter Thiel and Luke Nosek. The company quickly took off and by 2002 it had been acquired by eBay for $1.5 billion.
Levchin has since gone on to start several other companies, including Affirm and Glow. He is also an active angel investor and philanthropist. In 2006, he was named one of Time magazine’s 100 Most Influential People in the World.
Levchin’s Time at University and the Development of PayPal
Levchin’s Time at University and the Development of PayPal
Max Levchin dropped out of college after just one year, but his time at University was not wasted. It was during his time at University that he met Peter Thiel, who would later co-found PayPal with him. Levchin also developed the idea for PayPal while he was still a student. He started working on the project as a way to make money while he was still in school.
The project took off and eventually became the billion-dollar company it is today. Levchin credits much of the success of PayPal to the team that he assembled while he was still in college. The team included some of the best and brightest minds in the tech industry, many of whom are still involved with the company today.
Levchin’s Post-PayPal Career
After PayPal, Levchin co-founded Slide, a social media app that was acquired by Google in 2010 for $182 million. He also started HVF, a data-driven incubator and investment fund, and Affirm, a financial services company. In 2016, he was inducted into the National Academy of Engineering. owner of paypal
Conclusion
No matter what age you are, it’s never too late to make a difference and pursue your dreams. From his determination to make an impact in the tech world, Max Levchin was able to turn his idea into reality and become one of the most successful entrepreneurs in history. His story is a reminder that failure isn’t final, but instead should be used as fuel for success. Just like Max Levchin did at 16 years old, anyone can take risks and chase their goals no matter how big or small they might be.
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