History
What were Venmo's founders' names?
Andrew Kortina and Iqram Magdon-Ismail
What is Venmo's mission?
Change people's relationship with money and each other
What holds back Venmo's reputation?
Financial statements
What is a strength of Venmo?
Brand recognition, User-friendly interface, Social interaction
What is approximately the number of daily Venmo Transactions? (Hundreds of Millions)
Over 516 million
In 2012 what company bought Braintree for $800 million?
PayPal
What is Venmo's business model based on?
Transparent and user-friendly fee structures
What happened in 2021 that cost the company $30 million?
Large waves of fraud
What is a weakness of Venmo?
Security concerns, Transaction limits, Internet connectivity dependency
80%
In 2013 what company bought Venmo for $26.2 million?
Braintree
Cashback benefits, new features, privacy options
Why were legitimate Venmo transactions canceled?
Falsely flagged for fraud
What is an opportunity of Venmo?
Partnering with merchants and retail stores, Cryptocurrencies
What is the age group of Venmo's biggest demographic?
25-34
In 2020 what cryptocurrencies did Venmo allow users to use?
Bitcoin, Ethereum, Litecoin
How many active accounts does Venmo have?
Over 90 million
What privacy concern could be used by fraudsters?
Social feed future
What is a threat to Venmo?
Regulatory environment, Data hackers, Technological disruptions
What percent of Amazon customers expressed a desire to pay with Venmo?
47%
In 2016 what selected merchants did Venmo start working with?
Munchery and Gametime
Venmo relies on word of mouth, what percent of people prefer brand recommendations from friends over ads?
92%
What is Venmo's weekly spending cap?
$4,999
What are three of Porter's Five Forces?
1. Threat of New Merchants 2. Buyer Power 3. Supplier Power 4. Threat of Substitution 5. Competitive Rivalry
68,000