Braintree Buys Venmo for $26.2 Million

What I love about Venmo is that they took payment processing and aggressively went after a niche - 'spotting' or paying back a friend for cash - tailoring the app to that unique experience. Good job Venmo!

Re: Braintree Buys Venmo for $26.2 Million

#5

Post by [deleted] » Thu, Aug 16, 2012, 6:27 PM UTC

[deleted]

Re: Braintree Buys Venmo for $26.2 Million

#6

Post by untog » Thu, Aug 16, 2012, 6:31 PM UTC

acabal wrote: post #3

That's nice, but calling Braintree a startup is quite a stretch. (The article doesn't, it's just the HN headline.)

Judging by the URL, I think the article used to call it a startup and was then edited.

Re: Braintree Buys Venmo for $26.2 Million

#7

Post by tzaman » Thu, Aug 16, 2012, 6:36 PM UTC

Is it just me or is the number kinda low, based on Venmo's success so far (and the financial predictions)?

Re: Braintree Buys Venmo for $26.2 Million

#8

Post by SatvikBeri » Thu, Aug 16, 2012, 6:40 PM UTC

tzaman wrote: post #7

Is it just me or is the number kinda low, based on Venmo's success so far (and the financial predictions)?

There have been several "pay-your-friends" apps that achieve a lot of success for a while because they're free, then lose all momentum when they start charging. I'm not sure if Venmo is in the same boat, but it seems possible.

Re: Braintree Buys Venmo for $26.2 Million

#9

Post by habosa » Thu, Aug 16, 2012, 6:51 PM UTC

tzaman wrote: post #7

Is it just me or is the number kinda low, based on Venmo's success so far (and the financial predictions)?

Venmo hasn't been very successful thus far. They have a small to mid sized user base and they are currently operating at a loss (no fees on transactions that cost them money), so I think $26m is a pretty good number.

Re: Braintree Buys Venmo for $26.2 Million

#10

Post by gustaf » Thu, Aug 16, 2012, 7:05 PM UTC

Massive congrats guys! :)