Xoom Corporation, also Xoom, a PayPal Service is a digital money transfer or remittance provider that allows consumers to send money, pay bills and reload mobile phones from the United States to 41 countries, including China, India, Pakistan, Mexico and the Philippines. The company was founded in 2001, is based in San Francisco, CA, and has an office in Guatemala City, Guatemala. Xoom was an independent publicly traded company and was initially backed by venture firms including Sequoia Capital, New Enterprise Associates, SVB Capital, and Fidelity Ventures. On July 1, 2015, PayPal announced that it intended to spend $25 a share in cash, or about $1.09 billion, to acquire Xoom Corporation. The deal closed in November 2015.