Venmo is a great example of how a great idea can come from the process of making another. These two entrepreneurs had no plans of making an app like this until the need for it arose in their ventures of making a website. This app has truly changed the way money transactions are done and help make life a little bit easier.
I’ve always wondered the story behind Venmo, as I use it almost on a daily basis. Venmo has truly been a game changer in how people transfer money, and has really taken off since its inception. It is surprising to me how long it took someone to come up with an idea like this. Even though it was created in 2009, it seems to me like the app did not gain popularity until a couple of years ago. I would have never guessed that Venmo was purchased for 26.2 million. How do they make money? I know that it can cost a small amount to instantly transfer money but that is the only way I can see them making a profit. Very interesting article!
I have never heard of Venmo until coming up here and now all I hear people talking about when paying for something or paying someone back is use Venmo. It is also an interesting how they went their separate ways for a little bit than came back to create this new way to pay people. How they got to the name also seemed different compared to how other companies name their products and they actually looked into the history of the word.
That is a very interesting story. It really proves that you won’t reach your million dollar idea right away. It takes mistakes and it takes time but with some determination you can get there.
Very cool to read about how intentional the creators were about establishing an app with simple and intuitive name so that consumers could easily fit the name into their vocabulary. This application is a great way of showing how great ideas are not a spur-of-the-moment type thing, but an idea resulting from a problem that is groomed over a period of time.
Venmo has a very cool story. I love the way Kortina innovated such a simple thing in paying others and came up with a fantastic idea in Venmo. I didn’t know Venmo was made in 2009, it was ahead of its time but it has taken off!