C2it
From Wikipedia, the free encyclopedia
IndustryFinancial services
Founded2000
FounderS Young Lee, Hope Chen, Will Chen, Jason May, Ian Flint, Jay Shen
Defunct2003
| Industry | Financial services |
|---|---|
| Founded | 2000 |
| Founder | S Young Lee, Hope Chen, Will Chen, Jason May, Ian Flint, Jay Shen |
| Defunct | 2003 |
| Fate | Defunct |
| Parent | Citibank |
C2it was a person-to-person money transfer service established by Citibank in 2000 as a competitor to PayPal and Billpoint.[1] It was formed as a partnership with AOL, and later with Compuserve and Microsoft.[2]
The service was discontinued in November 2003, due to low usage; a 2002 Gartner survey indicated that of various online money transfer methods, only 1 percent said they used C2it vs 33 percent who used PayPal.[3]
