Wednesday, April 28, 2010
Last week I got an email from this company inviting me to join from my friend Marlene Gavens AKA The Savvy Seller. So I looked at the website briefly and signed up. Hey, I'm ALWAYS up for a PayPal alternative. I'm not a PayPal hater, but I believe competition is good in any market and PayPal has very little! So I went to the site to check it out. I _thought_ I was importing my Google contacts into an address book but it turns out that I gave Venmo permission to 'invite' them all! Soon I started getting text messages on my phone all night about them giving me $1 every time someone joined! Who Knew. Now, a few days later, they are sending reminder notices - ick! I'm sorry to those I've irritated with this, LOL, it was totally an accident. However, because of a couple of those emails I've decided to check it out.
The FAQ page at the website (which is all httpS so secured by Verisign) is very interesting. the company was stared in April of 2009 by two University of PA students. They have each been involved in several other Internet start up companies.
Venmo is meant to be totally text message based so I can see this becoming VERY big in my children's generation - it seems all they do is text all day! So I have $14 they 'gave' me in the account. I'm going to be brave and add a bank account today and try to withdraw that money and will even send $1 or $2 to some of those who 'joined' at my invitation. I'll report any issues back here. So far, my perusal of the website has given me a beginning feeling of confidence!