PayPal has announced the acquisition of Iron Pearl for an undisclosed amount. The renowned online payment service provider has been seeing fast growth as there are more than 5 million people who have been signing up and using the services. For this first quarter of 2012. it is the highest earning quarter in the past eight years for the online company. At present, there are more than 123 million clients of PayPal globally.

California-based start up company, Iron Pearl, was established by James Currier and Stan Chudnovsky. The main focus of the company is to create online tools for client acquisition and engagement. They have designed innovative tools, systems and proprietary technology based on a recent understanding of the cultural and social backgrounds that push the distribution of commodities and observed through the latest approaches in data analysis.  

As part of the recent acquisition, the founders of Iron Pearl, Stan Chudnovsky and James Currier will be remain with the new company. Mr Chudnovsky will be taking the position of Vice President of Growth while Mr Currier will serve as a Growth Advisor. PayPal's new Growth team will be concentrating on increasing its clientele and making sure that existing clients will continue to be assisted and served by the development of modern marketing approaches and product initiatives.