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Author Topic: Union Square Ventures Leading Series B in Dwolla for About $10M.  (Read 1046 times)
Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem


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January 20, 2012, 05:51:39 PM
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http://www.betabeat.com/2012/01/20/union-square-ventures-leading-series-b-in-iowa-based-dwolla/

To Sum it up:

Quote
Des Moines-based payments provider Dwolla, which enables seamless online payments for a quarter per transaction, has been a simmering hot new thing for a while. But recently the startup has had a flush of attention and VCs have been falling all over themselves to book flights to Iowa and get in on the company’s next round. Speaking of which, multiple sources have confirmed to Betabeat that Dwolla’s getting close to announcing a series B led by New York’s Union Square Ventures in the neighborhood of $10 million.

Quote
Dwolla, founded in 2008, hit $1 million a day back in July, the company announced at the time. Now it’s moving between $30 and $50 million per month, the startup told Business Insider last month, taking just $0.25 for transactions over $10 (less than $10, and it’s free).

Quote
We first heard about Dwolla back in May because the company was putting free credit in new users’ accounts, which some users then exchanged for Bitcoins. (Dwolla has lost popularity within the Bitcoin community since then, however.)

Fred Wilson is leading this round, who wrote a fantastic piece about why Bitcoin will succeed: http://www.avc.com/a_vc/2011/11/bitcoin.html

I hope he knows that the company he's investing in has a failed business model, steals from their merchants and clients to cover their losses due to the gaps and issues in their business model

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
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Phinnaeus Gage
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Bitcoin: An Idea Worth Spending


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January 20, 2012, 06:15:15 PM
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Damn good read! I just tweeted it to ChicagoCabbie (Rashid). I'm sure to get feedback from some of my massive followers.

~Bruno~
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January 20, 2012, 06:34:44 PM
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I am hoping Fred will ask Dwolla to integrate bitcoin into their services.

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