Which company was formed by Peter Thiel that developed software for Palm Pilot fund transfers?

Which company was formed by Peter Thiel that developed software for Palm Pilot fund transfers?

• A. Palm Inc.
• B. Confinity
• C. PayPal
• D. X.com

Answer: (B)

Confinity is the company Peter Thiel formed to develop a digital wallet and money-transfer software for Palm Pilot devices. This work on handheld payments laid the foundation for what would become PayPal after Confinity merged with X.com, Elon Musk’s online banking company. The other options don’t fit this specific origin: Palm Inc. was the hardware maker for the Palm Pilot, PayPal is the later online payments service that emerged from the merger, and X.com was the other company involved in the merger. The key idea is that Confinity started as a Palm Pilot–focused payments software creator, later evolving into PayPal through the merger.

Confinity is the company Peter Thiel formed to develop a digital wallet and money-transfer software for Palm Pilot devices. This work on handheld payments laid the foundation for what would become PayPal after Confinity merged with X.com, Elon Musk’s online banking company. The other options don’t fit this specific origin: Palm Inc. was the hardware maker for the Palm Pilot, PayPal is the later online payments service that emerged from the merger, and X.com was the other company involved in the merger. The key idea is that Confinity started as a Palm Pilot–focused payments software creator, later evolving into PayPal through the merger.