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WePay’s (YC S09) Group Payments Get Some Big-Name Backers, Including Max Levchin
- vaksel 17y agois there some deadline for investments or something? Seems like this week we've had one big investment after another
- ceredona 17y agojust because they announced now, doesn't mean they raised money recently
- vaksel 17y agooh no I know that, I just mean that there's been a ton of announcements these past couple of days.
- wheels 17y agoEffectively there was one a few weeks back leading up to Thanksgiving; these announcements may just be the tail end of those deals being finished up and having all of the legal stuff sorted out.
- m0th87 17y agoFor those who don't want to be charged a 3.5% transaction fee and are willing to work with a lot less features, there's always http://billshare.org/ http://billshare.org/ Me and my roommates use it and it has suited our needs fine for years
- varenc 17y agoOne of the big differences I see here is that billshare doesn't handle the money! WePay actually handles accepting the payment, and distributing the funds. You can then get a check, or better in many cases, spend it using a WePay debit card!
- m0th87 17y agoLike I said, it has a lot less features :) All it really does is expense tracking - you can post bills, and find out who owes who how much. There are also some semi-vanity features like stats on where the group is spending its money. I think billshare is good enough when you know the people in the group and can trust them to repay you when necessary. Otherwise WePay is probably the way to go.
- paulgerhardt 17y agoI've linked WePay to my checking account (50 cents per transaction) so settling with my roommates takes less than a minute, once a month, and the convenience of not having to lick an envelope and remember to mail it is worth the extra 6 cents (as opposed to paying for a stamp). For my needs, this is the best tool out there.
- iamelgringo 17y agoCongrats, Guys. I really like what you're doing. Keep up the good work.
- toivotuo 17y agoCongrats to WePay on the funding, but I can't help but notice a similarity between our and their business cards! ;-) http://www.flickr.com/photos/toivotuo/2857596922/ http://www.flickr.com/photos/toivotuo/2857596922/ (scred.com) http://img17.yfrog.com/i/f2w.jpg/ http://img17.yfrog.com/i/f2w.jpg/ (wepay.com)
- goatforce5 17y agoI can't help but notice a similarity between your business cards and Visa's credit cards! ;-)
- richardburton 17y agoMy first company, http://www.hoodeasy.com http://www.hoodeasy.com, has worked pretty well using this model. We're a middle-man between clothing suppliers and groups of students. Our selling point is the ease of group-ordering. Our margins are a lot higher than around 3% gross but we have a very niche focus. Another startup in the UK, http://www.wigadoo.com http://www.wigadoo.com, tried to do lead-gen for group-bookings of holidays and really struggled. They folded around August 09. Group ordering is definitely an interesting space. Sites like http://www.groupon.com http://www.groupon.com have the model just perfect because they focus on facilitating the mass-sale of high-margin products where the fixed costs of those business are quite high. I wish WePay all the best.