Square Now Processing $4 Million In Mobile Payments Per Day
Backlink: http://feedproxy.google.com/~r/Techcrunch/~3/ub-iSmYR3QE/
Showing posts with label million. Show all posts
Showing posts with label million. Show all posts
Sunday, July 31, 2011
Square Now Processing $4 Million In Mobile Payments Per Day
Flush with $100 million in new funding, Square is continuing to grow like a weed in the mobile payments space. After passing the $3 million mark at the end of May, Square is now processing $4 million in mobile payments daily, and is on track to reach over $100 million in transactions in July. And COO Keith Rabois tells us that he expects the company to double this volume by October.
In late June, Square raised a massive round of funding, which valued the company above $1 billion. At the time of the announcement, it was revealed that Square was processing nearly $4 million in payments per day, but the company has surpassed that mark a month later. Rabois tells us international expansion is part of the next phase of growth. He expects to initial launch payments capabilities outside of the U.S. in 2012.
Tuesday, July 26, 2011
This Profitable, $100 Million Revenue Startup Doesn't Want To Go Public
LegalZoom, the startup that makes it easy to build and use legal documents, has told TechCrunch it raised $66 million in funding from Kleiner Perkins and IVP.
This is despite the fact that the company says it's profitable with revenues over $100 million, the magic number most people say you need to hit to contemplate an IPO, and that tech IPOs are all the rage again.
First of all, these are very impressive numbers for a fairly under the radar, but highly disruptive startup. LegalZoom isn't a legal consulting service, but replaces many of the rote services that lawyers do for large fees: think drawing up a will, incorporating a business and the like. Most of these documents can be standardized and you shouldn't need a lawyer for them. That's where LegalZoom's software comes in.
LegalZoom CEO John Suh says he clearly wants to IPO at some point but it's too early and too much bother. It's interesting that big tech companies are still saying that despite the wave of blockbuster tech IPOs that's starting.
More on IPOs:
Please follow SAI on Twitter and Facebook.
Join the conversation about this story »
See Also:
- Zillow Prices IPO At $20 Per Share
- This 21-Year-Old Just Sold Her Startup For $100 Million
- Ex-LivingSocial Sales Guy: "There's Going To Be An Implosion And A Major Shakeout In The Industry"
This Profitable, $100 Million Revenue Startup Doesn't Want To Go Public
Thursday, July 21, 2011
Lion Downloads Hits One Million Mark in A Day, Apple Announced
Earlier in the day, diTii reported that Apple's next generation Mac OS X Lion operating system has become the Top Paid app in Mac App Store. Now, the Cupertion company has just reported that "in just one day, over one million users bought and downloaded Mac OS X Lion, the eighth major release of the world's most advanced operating system." (emphasis added)
Lion Downloads Hits One Million Mark in A Day, Apple Announced
Backlink: http://feedproxy.google.com/~r/DTWB/~3/pTp6LLK6cx0/
Wednesday, July 20, 2011
This 21-Year-Old Just Sold Her Startup For $100 Million
In 2005, Catherine Cook and her brother David had an idea for a startup. The high schoolers flipped through a yearbook and wanted to make a digital version.
The 15-and-16-year-olds got to work and created MyYearbook. In the 6-year span, the duo raised $17 million in financing, grew the site to 70 million users, and generated 1.2 billion monthly pageviews.
Today, a publicly-traded Latino social network, Quepasa, announced its $100 million acquisition of MyYearbook. The majority of the deal, $82 million, is Quepasa common stock. The other $18 million is cash.
Geoff Cook, MyYearbook's CEO and sibling of Catherine and David, wrote a letter to his 100+ employees:
"I don’t consider this an exit or the end. I consider it the end of the beginning, and I believe we have a lot more innovative products to create," he says.
Welcome to retirement Catherine, Geoff and David! Although we're sure this won't be the last company they create.
The Cooks aren't the only entrepreneurial kids who have made tons of money. Check out 10 pre-teens who make millions more than their parents >>
Please follow SAI on Twitter and Facebook.
Join the conversation about this story »
See Also:
- The Big Spotify Surprise: Free Music On Demand For SIX MONTHS
- The Truth About New Zealand's Startup Scene
- "DON'T Do A Startup, You Will FAIL"
This 21-Year-Old Just Sold Her Startup For $100 Million
Thursday, July 7, 2011
CONFIRMED: Turntable.fm Has Raised $7.5 Million Round At $37.5 Million Valuation
We read earlier today that group music/DJ site Turntable.fm was raising a multi-million-dollar round.
After speaking with sources involved in the financing, we can confirm that term sheets were indeed signed yesterday (the deal is so fresh the money has yet to hit Turntable.fm's bank account).
Turntable.fm raised $7.5 million at a $37.5 million valuation.
All of the initial investors are in on the round, plus one additional investor. They're excited by Turntable.fm's rapid growth and potential.
First Round Capital principal and Turntable.fm investor Charlie O'Donnell recently tweeted, "If Turntable.fm asked me to pay a subscription to take it mobile... I'd do it in a heartbeat."
The startup has been the talk of New York City since it launched two months ago from the ashes of failed company, StickyBits. We wrote about it last month as one of the hot 25 NYC startups you needed to watch.
Now the music startup has 300,000+ users who include prominent venture capitalists like Bijan Sabet and Fred Wilson, as well as DJ Sir Mix-A-Lot of "Baby Got Back" infamy.
Please follow SAI on Twitter and Facebook.
Join the conversation about this story »
See Also:
- Can This Startup Beat IBM, Microsoft, SAP And Oracle?
- Travel Site Ostrovok Is Launching Next Week With $13 Million From Accel and General Catalyst
- How Groupon Is Like Google And Why Recruiting Is A Nightmare Now
CONFIRMED: Turntable.fm Has Raised $7.5 Million Round At $37.5 Million Valuation
eBay Acquiring Mobile Payment Company Zong For $240 Million (EBAY)
eBay just announced plans to acquire mobile payment company Zong for $240 million in cash.
Zong lets people pay for things using their cell phones. The startup will integrated into PayPal, which is expanding in mobile payments.
eBay has been on an acquisition tear in the last few months buying Milo.com, GSI Commerce, and Where.
Here is the release:
eBay Inc. announced today that it has agreed to acquire Zong, a leading provider of payments through mobile carrier billing, for total consideration of approximately $240 million in cash. Zong leverages connections with more than 250 mobile network operators around the world, offering localized, secure and easy-to-use payments capabilities for digital goods and services in 21 languages and 45 countries. Combined with PayPal’s leading global payment platform serving 100 million active accounts worldwide, the company expects that Zong will add complementary technology and talent that help strengthen PayPal’s leadership position in mobile payments and digital goods.
“We believe that Zong will strengthen this value by helping us reach the more than 4 billion people who have mobile phones, giving them more choice and security when they pay.”
Zong allows consumers to easily pay for purchases from their mobile phones or computers through direct carrier billing. Consumers simply enter their mobile phone numbers. Then, in a matter of seconds, Zong verifies that number and clears the payment on the customer’s existing wireless service account.
With Zong, PayPal will have greater ability to offer consumers even more choices in how they want to pay – virtually anytime, anywhere. Both Zong and PayPal help to enable digital goods merchants to increase conversion, because they offer a faster, easier way for consumers to pay without leaving the merchant’s site.
“Commerce is changing. With mobile phones, we walk around with a mall in our pockets. PayPal helps to make money work better for customers in this new commerce reality – no matter how they want to pay or what device they’re using,” said Scott Thompson, president of PayPal. “We believe that Zong will strengthen this value by helping us reach the more than 4 billion people who have mobile phones, giving them more choice and security when they pay.”
“Our customers love the convenience of paying with their mobile numbers – a number they know by heart, and a device that they always have with them,” said David Marcus, CEO of Zong. “We look forward to extending our services to PayPal’s more than 9 million merchants around the world. And we’re committed to working with carriers and merchants to help them drive more sales across devices.”
PayPal is an industry leader in mobile payments and digital goods. PayPal expects to transact more than $3 billion in mobile payments in 2011. Currently, more than 8 million customers are making purchases on their mobile phones through PayPal, driving up to $10 million in mobile payments per day. PayPal offers Mobile Express Checkout for merchants, PayPal Mobile Payments Library for developers, PayPal payment apps for iPhone, Android, Nokia and Blackberry, and location-based shopping with Where.
Earlier this year, PayPal launched PayPal for Digital Goods, a new product that lets buyers pay in two clicks without leaving their gaming experience or content site. In 2010, PayPal processed $3.4 billion in payments for digital goods.
eBay Inc. does not expect the acquisition of Zong to have a material impact on its financial guidance as issued in conjunction with its first quarter earnings release on April 27, 2011. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the third quarter of 2011.
Please follow SAI on Twitter and Facebook.
Join the conversation about this story »
See Also:
- Big-Time 7.8 Earthquake Strikes Off New Zealand
- Roubini: Here Comes A Massive Fiscal Drag In 2012, And A "Perfect Storm" In 2013
- Facebook Rolls Out Video Calling With Skype
eBay Acquiring Mobile Payment Company Zong For $240 Million (EBAY)
Subscribe to:
Posts (Atom)