Peter Rudegeair

speaker

756 appearances 12 recordings 1 series first heard Nov 2017 last heard May 2021

Peter Rudegeair’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · PayPal Branches Out into Robo-Investing · 21 Nov 2017 podcast

So it could really get better distribution through this partnership. voice-verified

at this point. voice-verified

20 years old. voice-verified

1998 was founded. voice-verified

And for most of that time, it was kind of what you first think of when you think of PayPal. voice-verified

It's a button on a website allowing you to kind of check out, usually on eBay, faster and easier. voice-verified

Now, under Dan Schulman, who became CEO slightly before it spun out of eBay in 2015, he's really tried to diversify the company into other businesses. voice-verified

And Dan has really been interested in serving customers that really don't have access to mainstream financial products. voice-verified

So in 2015, they bought a company called Zoom, which handled remittances, cross-border money transfers for consumers. voice-verified

He's also invested in companies like Venmo, which PayPal also got through an acquisition, which is a millennial money transfer service. voice-verified

Those are acquisitions, but Dan has also been active in using PayPal's capital to invest in startups that also offer services for the underserved. voice-verified

So that includes LendUp, which is an online lender, as well as Raise, which is a marketplace for gift cards. voice-verified

That's right. voice-verified

It's pretty funny. voice-verified

The CEO is often, you know, face questions about how he's going to compete with the likes of Venmo, given that it's very popular with younger users. voice-verified

And as you say, a lot of people don't realize that Venmo is actually a unit of PayPal. voice-verified

Think of traditional investing. voice-verified

Usually you might have a broker or a financial advisor who kind of advises you on different kind of stocks or index funds that you want to buy, usually charges a fee, and facilitates getting you access to those. voice-verified

Robo investors or robo advisors kind of take out that human layer a lot of the times, right? voice-verified

So you can give them a pot of money. voice-verified

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