HomeUp
Neteller PLC is a publicly traded company on the London Stock Exchange Alternative Investment Market.
An Isle of Man based E-wallet service that enables customers to load, withdraw and transfer funds online, Neteller was founded in 1999. The company was a relatively small online payment processor until PayPal's similar service stopped taking transactions from online gambling sites in 2002.
Neteller's initial public offering was in April 2004. By the end of 2005 its stock price had increased approximately 300%. Revenue for the third quarter of 2005 more than doubled to US$45million compared to a year earlier, while pre-tax profits increased from $13million to $26million. Neteller's market cap at the end of 2005 was over US$1.5billion.