Company report on Venmo

1. Venmo
Sanjay Devireddy

2. Product
● Smartphone payment application (Web also)
● Bank/Card Integration
● Miniature social network

3. Product

4. Financials
● Purchased by PayPal in 2013 for $800 million
● Revenue will come from 3% fee for merchant transactions in the future
● $2.5 billion worth of payments processed in 4rd quarter 2015 alone, and
growing rapidly

5. History
● Founded by two college roommates, Andrew Kortina and Iqram Magdon-
Ismail in 2009
● Acquired by Braintree in 2012 for $26.2 million
● Acquired by Paypal in 2013 for $800 million

6. Secret Sauce
● Very simple to make or request secure payments - only 4 clicks!
● Free (for debit cards and bank accounts)
● Network effects - used by many college students + Facebook integration

7. Competition

8. Prediction
● Will continue to be successful among young demographic
● Expanse into merchant services will further Venmo’s popularity + grow
revenue
● Watch out for Facebook Payments!

9. Questions?