Idealab Partners to Invest in PayPal.com

Pasadena venture capital firm Idealab Capital Partners and investment bank Goldman, Sachs & Co. are expected to announce today that they have invested $23 million in PayPal.com, Palo Alto-based developer of e-mail payment systems. “The backing of top-tier investors like ICP and Goldman Sachs validates the growing acceptance of e-mail payments and recognizes the potential of this new e-commerce category,” said PayPal Chief Executive Peter Thiel. This is the second round of financing for PayPal, which already has investors such as Nokia Ventures and Deutsche Banc. On Wednesday, the Idealab Internet incubator said it led an investment group that gave $38 million to EVoice, a Menlo Park firm that offers free voicemail services. EVoice will join the Idealab network of companies.