PayPal is an e-commerce company from the US, and Venmo is a mobile payment service also from the US.
So, if you use Venmo, PayPal, or both often, you may be wondering if they are owned by the same company? I did the research, and here is what I found!
Does PayPal Own Venmo In 2023?
PayPal is currently Venmo’s sole owner and “Parent Company.” Braintree had purchased Venmo first, but shortly after, PayPal acquired both Braintree and Venmo and they are now part of PayPal’s growing “family” in 2023. Additionally, PayPal was previously owned by eBay, but left the company and became independent once again, so eBay doesn’t have any ownership over Venmo either.
If you want to learn more information about Venmo and PayPal, how they are similar, and more, then keep reading!
Are Venmo and PayPal the Same Company?
PayPal does own Venmo but, they are not the same company. PayPal is Venmo’s “parent company,” but Venmo still has its own platform.
Therefore, PayPal manages Venmo and assists financially, and in any other way needed, but Venmo still runs its operation.
Even though Venmo has its name and platform separate from PayPal, Venmo does state on its website that its part of the “PayPal family.”
Additionally, Venmo and PayPal are very closely related, as they are both large digital financial companies, but they are not the same thing.
Venmo is a large mobile payment service based only in the US. Venmo started as a way to share money between close friends and family, for things like splitting dinner bills and more.
Originally, Venmo did not accept “consumer-to-business” transitions through its platform.
However, the company has changed its platform and is now accepted as a payment option anywhere that PayPal is accepted.
Furthermore, Venmo is still primarily used to transfer money safely between friends and family, or other people you know, and has very few fees involved.
PayPal is a multinational company and is on a much larger scale than Venmo.
PayPal was started as and is still primarily used for business purposes, such as paying for items or receiving money from a customer.
However, PayPal also has a friends and family option like Venmo, allowing customers to send and receive transactions to and from anyone, along with purchasing items, in almost any country and region in the world.
PayPal also has a few fees that apply.
Who Owns PayPal?
PayPal is now an independent company and is not owned by anyone. Being an independent company, PayPal now has control and runs its own company.
However, PayPal and eBay still work together.
PayPal was founded in the US in 1998, and in 2002, it became a wholly-owned subsidiary of eBay.
However, in 2015, PayPal became an independent company once again.
A wholly-owned subsidiary means that a parents company, or holding company, owns 100% of the subsidiaries stock.
An independent company means that it is not associated with another company through common ownership, affiliation, profits, losses, etc.
Additionally, a holding company owns other companies like a parent company. However, the holding company does not have its operations like a parent company.
How Long Has Venmo Been Owned By PayPal?
PayPal has owned Venmo since 2013.
Venmo was originally founded in the US in 2009, and in 2012, Braintree bought Venmo.
Not long after, PayPal acquired Braintree and Venmo as part of its growing” family.” Currently, PayPal is Venmo’s sole owner and “parent company,” and has been since 2013.
To know more, you can also read our posts on whether or not PayPal will work in Thailand, does PayPal will work in Ukraine, and if PayPal will work in Ethiopia.
PayPal was founded as an independent company, was owned by eBay, and then became an independent company once again, now owning several companies.
Venmo was also founded as an independent company that was then bought by Braintree, until PayPal bought Braintree and Venmo, and became Venmo’s only “parent company.”