Notes On A Payments Startup On The Rise

3135 Words Mar 22nd, 2015 13 Pages
Venmo: A Payments Startup on the Rise

MSIN7008 Individual Coursework

Prof. Dave Chapman and Philip Treleaven

23 March 2015

Table of Contents

I. Introduction……………………………………………………………..1 1. Overview
2. Venmo’s Story
3. Venmo Today
II. Documenting the Business Model………………………………………………………..2
III. Macro Market and Industry Analyses…………………………………………………….3 1. New Business Road Test and Customer Analysis 2. Team Domain Analysis and Critical Success Factors 3. Competitor and Entry Barrier Analysis
IV. SWOT Analysis……………………………………………………………..……………4
V. Reflection: The Bottom Line……………………………………………..………………5 1. Venmo’s Future
Bibliography…………………………………………………………..…………………6

I. Introduction

1. Overview
Founded in New York City and currently based in San Francisco, Venmo offers a light and clean mobile payments app that is changing the entire face of payments. Its tagline is simple: make payments to anyone by linking your phone with your bank. It calls itself “the best way to pay your friends. Fast, secure, and free.” From my personal use of the app, I can understand how it takes the awkwardness out of paying your friends for anything from utility bills to a night out. Venmo empowers you to instantly and safely send and receive payments on the go.

2. Venmo’s Story

Andrew Kortina and Iqram Magdon-Ismail, two former roommates at the University of Pennsylvania, founded Venmo. According to Inc.com, Andrew and Iqram met as randomly paired roommates in their…
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