PayPal’s January 2002 prospectus says Thiel co-founded Confinity in December 1998 and was its chief executive and chairman until March 2000, when it merged with X.com. It says he “left shortly thereafter” and rejoined as chief executive in September 2000. He became chairman in May 2000. [1]
The same filing records that in December 1998 Thiel Capital International lent Confinity $100,000, later converted into stock. It lists Thiel, Max Levchin and Elon Musk among the directors. [1]
Musk’s separation agreement, filed with the SEC, records his resignation as chief executive effective September 2000. In 2002 eBay agreed to buy PayPal in an all-stock deal valued at about $1.5 billion. [2][3]
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