441 preso

1. Mara Gordon

2. What is Venmo?
“Free digital wallet”
Make, request and split payments
Linked to credit/debit/bank

3. Problem
Problem: Need to quickly access money on the go

4. Financial
Currently, Venmo does not generate a lot
of revenue
1. Free App
2. No ads
3. Small transaction fee for processing

5. Business Model
Current: transaction fees -- 3% for processing costs
Future: Venmo partnering with apps to let users pay straight from Venmo accounts
and take a cut (~3%), which is higher than most credit cards.
So, why would anyone do that?

6. Secret Sauce
Social media!
Who’s hanging out with whom and WHERE

7. History
2009
Founded
Began as a payment system
through text message, but later
introduced the platform as a social
network.
Acquired by Braintree
There were three rounds of
funding before Venmo was
acquired by Braintree for 26.2
million.
2012
Braintree Acquired
Braintree was acquired by PayPal
for 800 million.
2013
Venmo + Merchants
Venmo began working with
merchants that would accept
venmo. Could reach millions of
more companies in next year.
2016

8. Venmo, a Shaker

9. Competition
Venmo Apple Pay Zelle Circle Pay
Free App X X X
Any Phone X X X
Peer to Peer? X X X
Secure? X X
Social Media X Sort of...

10. Prediction
I think Venmo will continue to be successful for a while...
Venmo’s security has been questioned
Social Media aspect won’t save it

11. References
https://www.theatlantic.com/business/archive/2017/07/venmo-makes-money-bank
s/533946/
http://www.investopedia.com/articles/personal-finance/032415/how-safe-venmo-a
nd-why-it-free.asp
http://www.investopedia.com/articles/personal-finance/010715/venmo-its-business
-model-and-competition.asp
https://en.wikipedia.org/wiki/Venmo