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Why Bigger Is No Longer Better

Why Bigger Is No Longer Better | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Scale isn’t what it used to be and the old days of empire building are over
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Excellent article on innovation and how being a big firm is not necessarily a competitive advantage, in fact could be the opposite

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Expensify Launches Venture Fund

Expensify Launches Venture Fund | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Expensify, an expense reporting software company, has gotten its hands into the FinTech funding space.
The company announced yesterday (July 27) that it was launching Expensify Ventures — an investment fund for early-stage financial tech startups.

Via Kenneth Carnesi
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FinTech (Financial Technology) just got another Venture Capital fund to help those startups that are operating in this emerging domain

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Deep look at Sony's crowdfunding effort- Sony's Seed Acceleration Project (SAP)

Deep look at Sony's crowdfunding effort- Sony's Seed Acceleration Project (SAP) | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
It could be the start of a new Sony -- a company that's trying to recalibrate its new product compass by throwing nascent ideas and projects to the public... an...
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Sony's Seed Acceleration Project (SAP) has even been granted a fair amount of autonomy from Sony CEO Kazuo Hirai. Even if it still feels a little odd for a firm this size to be asking you to fund its next hit, some of those seeds are now taking root. We visited the company's "Creative Lounge," where employees and outsiders work on pitches as well as prototype products.   Some excellent projects cum products are in the offing over at Sony's version of Kickstarter.  It is my honest, professional opinion, that this is what other corporate sponsored, early stage gate approaches that need to be embraced, the contest approach is too little help, too late, when people talk about open innovation platforms.

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These 9 trends show the future of mobile payments and banking

These 9 trends show the future of mobile payments and banking | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Here are the core findings from the Mobile Ecosystem Forum's third annual Global Mobile Money report, which studied 15,000 mobile users across 15 countries.
Richard Platt's insight:

1. In-store payments, while negligible today. are indicative of what’s to come. 12% of people have made a proximity payment in the last six months. 4% have done so via NFC contactless, while 7% paid using a merchant’s ”plug and play” or mobile point-of-service device. Another 5% said they paid via a mobile loyalty card scheme such as the Starbucks mobile app.

2. Consumers still don’t know why they need a mobile wallet. The research reveals public confusion and, to a degree, apathy around the mobile wallet proposition. 18% don’t know what it is, 15% don’t see the point, and a further 15% say “no one I know is using one.”

3. Social is the future of commerce. The impact on how mobile is used for social media services is significant, with 24% of feature phone users and 15% of smartphone users indicating that a social media page is already their number one destination for mobile commerce.

4. Lack of consumer trust threatens the progress of mobile money. 34% of consumers place security at the top of their concerns. 11% don’t trust the security” of mobile money, 9% fear giving away too much private information, 8% say the systems are not secure, and 6% don’t trust the merchant.

5. Consumers turn to messaging apps as the new shop windows. 56% of respondents prefer making purchases from within an app to making them on a mobile web site.

6. Second screening becomes a shopping opportunity. 94% of respondents agree they use another form of media while browsing on their phones, with TV the most popular at 42%.  14% of those second screeners said they were engaged in shopping or commerce, while 32% said they were looking for information relating to the same content.

7. The reinvention of the high street. 58% of respondents said they had ”found something they wanted to buy while surfing on a mobile and then bought it in a shop.” Interestingly, exactly the same number had engaged in showrooming, with 28% brazenly making a mobile purchase while in the store.

8. How banking services are being adopted. 69% of mobile users currently do some form of banking on the their phones. The biggest activity is still the most basic: 28% check their balances. But a rising number perform more sophisticated actions such as transferring funds between accounts (18%), sending money to someone else (16%), and applying for a loan (9%).

9. Seamless authentication and convenience matter. 32% of consumers indicated that mobile money was ”convenient,” showing how highly people value speed and immediacy when making a purchase. Payment providers are all too aware of the requirement to make services as friction-free as possible. Perhaps fingerprints offer the solution. For many, they represent the best opportunity to reduce a purchase to one action. 

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American Express Launches Its Own PayPal Alternative

American Express Launches Its Own PayPal Alternative | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
The launch comes as Google, PayPal, Visa and MasterCard compete to own the Buy button on websites and apps.
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The credit card company today is introducing Amex Express Checkout, an alternative payment method its card members can use to more easily check out and pay on partnering websites and apps from merchants such as Ticketmaster, Newegg and Warby Parker.

American Express cardholders enter their usernames and passwords from their online Amex accounts and the tool auto-fills their payment information into the billing and shipping fields.  -  The move comes as tech companies like Google and PayPal and credit card competitors Visa and MasterCard are competing to own the Buy button on websites and apps. As e-commerce continues to grow significantly faster than offline retail, these companies are vying to make checking out easier on shopping sites, whether on desktop computers or mobile phones.

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As More Tech Start-Ups Stay Private, So Does the Money - NY Times

As More Tech Start-Ups Stay Private, So Does the Money - NY Times | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it

By Farhad Manjoo.


Fledgling companies are increasingly delaying initial public offerings of stock, which can keep the risks — and rewards — limited to venture capitalists and hedge funds.

Not long ago, if you were a young, brash technologist with a world-conquering start-up idea, there was a good chance you spent much of your waking life working toward a single business milestone: taking your company public.Though luminaries of the tech industry have always expressed skepticism and even hostility toward the finance industry, tech’s dirty secret was that it looked to Wall Street and the ritual of a public offering for affirmation — not to mention wealth.But something strange has happened in the last couple of years: The initial public offering of stock has become déclassé. For start-up entrepreneurs and their employees across Silicon Valley, an initial public offering is no longer a main goal. Instead, many founders talk about going public as a necessary evil to be postponed as long as possible because it comes with more problems than benefits. Read more, click image or title.


Via Marc Kneepkens
Richard Platt's insight:

Silicon Valley’s sudden distaste for the I.P.O. — rooted in part in Wall Street’s skepticism of new tech stocks — may be the single most important psychological shift underlying the current tech boom. Staying private affords start-up executives the luxury of not worrying what outsiders think and helps them avoid the quarterly earnings treadmill.  -  It also means Wall Street is doing what it failed to do in the last tech boom: using traditional metrics like growth and profitability to price companies. Investors have been tough on Twitter, for example, because its user growth has slowed. They have been tough on Box, the cloud-storage company that went public last year, because it remains unprofitable. And the e-commerce company Zulily, which went public last year, was likewise punished when it cut its guidance for future sales.


Scott Kupor, the managing partner at the venture capital firm Andreessen Horowitz, and his colleagues said in a recent report that despite all the attention start-ups have received in recent years, tech stocks are not seeing unusually high valuations. In fact, their share of the overall market has remained stable for 14 years, and far off the peak of the late 1990s.  -  That unwillingness to cut much slack to young tech companies limits risk for regular investors. If the bubble pops, the unwashed masses, if that’s what we are, aren’t as likely to get washed out.

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PayPal buys Xoom for $890 million to strengthen hold in the money transfer business

PayPal buys Xoom for $890 million to strengthen hold in the money transfer business | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
With Facebook and Square reigning in on the money transferring business, PayPal isn’t resting on its laurels. The company today dropped $890 million on Xoom, a payment transfer service similar to the already PayPal-owned…
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PayPal says the acquisition will allow it broaden its services by cross-selling to Xoom’s 68 million active users, and expand its presence in Xoom’s 37 countries – Mexico, India, the Philippines, China and Brazil in particular.  -  Meanwhile, Xoom also gets access to PayPal’s customers

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The Emergence of a Digital Money Ecosystem - MIT Video

The Emergence of a Digital Money Ecosystem - MIT Video | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
About the Presentation We are in the early stages of a very important transformation—the transition to a digital money ecosystem. This transformation is likely to be among the most ...
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We are in the early stages of a very important transformation—the transition to a digital money ecosystem. This transformation is likely to be among the most exciting, important, and challenging initiatives the world will undertake in the coming decades. - The 55 minute webinar presents an overview of the digital money transformation and the technical and societal forces that are driving it. Also discussing some of the potential major consequences to business, the economy, and society in general.

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What is the future of payment technologies?

What is the future of payment technologies? | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
TECHNOLOGY has already made your Nokia 3315, VCR and cassette player irrelevant and now it wants to destroy your wallet.
Richard Platt's insight:

A well written article on the future of security and payment options are likely to head, e.g. scanning recognition, the one chip rule under your skin (not sure I would agree with this), instantaneous transfers, windscreen recognition, wearable technology, register-less transactions, and potentially new digital currencies.  

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How the Internet of Everything will help bank the unbanked

How the Internet of Everything will help bank the unbanked | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
IoE can enable banks and financial institutions to address the massive challenge of financial inclusion..
Richard Platt's insight:

Despite all these advances in banking, financial inclusion remains a challenge, especially in developing economies such as India. And digitization is an important tool towards addressing this challenge. As digital frontiers expand, banks will be able to deliver highly customized services at relatively low costs and expand their customer base by reaching people who were until now outside the banking ecosystem. In other words, the spread of digitization and the Internet of Everything will accelerate the process of financial inclusion.  A 2014 study by Cisco revealed that of the 7200 retail banking consumers surveyed across 12 countries including India, customer expectations from financial services were not being adequately met. It showed that 4 out of 5 customers would rather trust a non-banking organization for their banking needs.  Those surveyed were keen to explore the following five IoE-related solutions: virtual financial advice, virtual mortgage advice, automated advice, branch recognition and mobile payments. While these services may not necessarily be the most relevant for people outside the fold of formal banking, IoE offers a number of opportunities for the bottom of the pyramid as well.  -  For example, while it may not be feasible for banks to build physical branches in remote areas, they can still be accessible and provide requisite services to the people through mobile banking, interactive electronic kiosks and smart payment devices.

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The strange death of the tech IPO

The strange death of the tech IPO | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
It is not often these days that investors have the chance to send the shares of a tech company to a huge premium on its first day of dealings. Such acts of exuberance do still happen. Last week, in an echo of the dotcom craze of the 1990s, buyers
Richard Platt's insight:

Tech IPOs now raise less money, adjusted for inflation, than in the early 1990s, according to research by Andreessen Horowitz. When it comes to the number of deals done, you have to reach back even further into the past, to the 1980s when the likes of Apple and Microsoft were listing their shares.  -  The main reason is that tech ventures are staying private longer. Instead of doing IPOs, they are tapping funds from “late stage” venture capital investors. So far this year, companies have raised $20bn through such private offerings. Their reluctance to go public explains the increasing ubiquity of what are termed “unicorns” — privately held entities whose equity has been ascribed a valuation in excess of $1bn. At the beginning of June there were 61 of these fabled creatures in the US, valued at a collective $212bn.  -  It is easy to see why tech founders want to stay private. Most prefer to get on with growing their businesses, rather than courting institutional investors and dealing with the bureaucratic demands of the quarterly earnings cycle.

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Google's News Lab launches three new crowd-sourcing projects

Google's News Lab launches three new crowd-sourcing projects | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Google's new projects include a joint venture with Storyful and a coalition aimed at helping citizen journalists learn new skills
Richard Platt's insight:

The YouTube project is an expansion of the relationship that Storyful—which was founded by Mark Little, a former foreign correspondent from Ireland—has had with Google’s video unit for some time. The two have worked on previous projects such as CitizenTube and the Human Rights Channel, with Storyful helping to provide fact-checking and verification for videos that are submitted by YouTube users around the world.  -  Since the company began in 2010, Storyful managing editor Aine Kerr says the service has verified more than 100,000 YouTube videos, using its teams of social-media analysts and journalists. And the challenge of doing so in real time has only increased, Little says: When Storyful started working with YouTube, about 48 hours of video was uploaded to the service every minute—now that number is closer to 300 hours.

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Building a fundable startup

Shekar Kirani of Accel Partners and Vijay Anand of The Startup Centre, did this talk at the NASSCOM Product Conclave 2013 held in Bangalore.
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Pretty good suggestions, not the same as a Guy Kawasaki preso, but that isn't a bad thing either, useful information.

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Square Will Launch An Apple Pay-Ready NFC And Card Chip Reader This Fall

Square Will Launch An Apple Pay-Ready NFC And Card Chip Reader This Fall | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Apple today announced a new partnership for Apple Pay with Square, which will release a new card reader designed to allow small businesses to take Apple Pay..
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Apple today announced a new partnership for Apple Pay with Square, which will release a new card reader designed to allow small businesses to take Apple Pay payments as well as credit card chip payments, but not card swipes.  - However, Square says it will ship its standard magnetic card stripe reader with the new NFC/EMV card chip reader so merchants can accept all forms of payment. Square will earn its standard 2.75 percent fee on all of these transactions, allowing it to earn money by pushing the adoption of Apple Pay.

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Square Said to File Confidentially for IPO

Square Said to File Confidentially for IPO | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
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Square, which processed $30 billion in payments from its millions of merchant customers in 2014, has been expanding into other areas such as business lending and payroll processing to provide more services.  Aaron Zamost, a spokesman for San Francisco-based Square, declined to comment, as did representatives for the banks.
Under the Jumpstart Our Business Startups Act, companies with less than $1 billion in revenue can file for an IPO with the U.S. Securities and Exchange Commission privately and work out the details with the SEC outside the public eye.

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Uber For Frat Boys: How Bellhops Is Capturing Untapped Collegiate Labor

Uber For Frat Boys: How Bellhops Is Capturing Untapped Collegiate Labor | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
The gig economy — familiar to the underemployed across America — has hit college campuses. But are these undergrads ready for the outside world?
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Bellhops, a Chattanooga-based startup that aims to harness the underutilized labor pool of college undergraduates by allowing people living nearby to commission them as amateur movers.

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Digg co-founder raising $50 million for Internet of things fund

Digg co-founder raising $50 million for Internet of things fund | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Jay Adelson and Andy Smith want to invest in the Internet’s “third wave.”
Richard Platt's insight:

Center Electric, a new venture capital firm focused on the Internet of things, is seeking to raise $50 million for its debut fund (with a $75 million hard cap), Fortune has learned from prospective investors.  The Silicon Valley-based firm was formed by Jay Adelson, co-founder of Equinix and Digg, and former Dolby Labs executive Andy Smith. plans to back early-stage companies involved in producing the “underlying infrastructure needed to support IoT as well as the hardware that takes advantage of it.”

So far, Center Electric lists 11 portfolio companies, including August, ParkiFi and Paperspace.

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PayPal’s Xoom Deal Hits Potential Shareholder Snag

PayPal’s Xoom Deal Hits Potential Shareholder Snag | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Just three business days after PayPal announced it will acquire international money transfer provider, Xoom, for $890 million in an all cash deal,

Via Kenneth Carnesi
Richard Platt's insight:

Just three business days after PayPal announced it will acquire international money transfer provider, Xoom, for $890 million in an all cash deal, an investigation into the deal has surfaced.   According to a news release posted late yesterday morning (July 6), former U.S. Securities and Exchange Commission attorney Willie Briscoe, along with a securities litigation firm, Powers Taylor LLP, are investigating potential claims against the Xoom’s board of directors. The claims relate to the price of the shares, which the attorneys suggest undervalue what each individual share is actually worth.  -  The release on the investigation states: “Under the terms of the agreement, Xoom shareholders will only receive $25.00 in cash for each share owned, which is virtually no premium over the 52-week high and significantly lower than at least one analyst’s estimated value of $32.00 per share.”

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MasterCard is testing a new way for you to pay with your face

MasterCard is testing a new way for you to pay with your face | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
MasterCard announced on Thursday that it's looking to add a layer of biometric security to its credit cards and all user will need to do is simply take a selfie...
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MasterCard announced on Thursday that it's looking to add a layer of biometric security to its credit cards and all user will need to do is simply take a selfie. The system will create a digitized map of your face, convert that map into a hash and compare it to the hash stored on Mastercard's servers. Users will be able to pay through a mobile app with either their fingerprints or by staring into the device and blinking once. The blink is used to prevent someone from just holding up a picture of you to spoof the system. What's more, "They're storing an algorithm, not a picture of you," Phillip Dunkelberger, who runs Nok Nok Labs, told CNN Money. "And I'm sure they're doing the appropriate stuff to guard it.

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Sony has a new crowdfunding website for employee projects

Sony has a new crowdfunding website for employee projects | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Sony has created its own, Japan-only version of Kickstarter.
Richard Platt's insight:

Last year, Sony revealed a business program that encouraged employees to develop the most innovative ideas they can think of in an effort to find new hits. Now, the company has launched a crowdfunding and e-commerce platform called "First Flight" for products that come out of that project. While its main purpose is to raise funds for and sell Sony's experimental creations, the company's hoping it can also help connect it with audiences and gauge the public's interest. For its debut, First Flight is selling two products, which were already crowdfunded through third-party websites in the past: an e-paper smartwatch and a small device called "Mesh" tag that can turn devices into connected gadgets.  -  It's also scheduled to run a crowdfunding campaign for an e-paper remote control with a customizable display for six weeks. If you visit First Flight, you'll see that it's Japan-only for now

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Smart money: Blockchains are the future of the internet

Smart money: Blockchains are the future of the internet | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Entrepreneurs are hoping to profit from blockchain technology
Richard Platt's insight:

"Blockchains will be deployed in the financial realm and then e-commerce," says Aaron Wright of Cardozo Tech Startup Clinic. The Nasdaq is piloting a stock exchange off blockchain technology. UBS is experimenting with "smart bonds" that use the bitcoin blockchain.  -  One application could be "smart contracts" and micro-contracts that enable you securely to execute tiny transactions. Such micro-contracts offer hope to the unbanked and uncreditworthy. Micro-contracts could fund the internet-of-things, allowing your washing machine to order and pay for its own detergent. "Micro-finance is a killer application," says "Goran", (a potential investor who does not want to reveal his real name) at a Blockchain Workshop this month in London.  -  "Blockchains can solve areas of business life that frustrate me," he adds, "like the flawed banking system and dysfunctional global payments system. How to monetise blockchain technology? Anyone who says they have struck gold is lying, ignorant or trying to raise finance. If they knew, they'd keep quiet."  - Risks and uncertainties abound. A decentralised, flattened and destructured network is prey to undesirable elements. Governments will have to adapt or risk extinction in many functions  The smart money is eyeing up this "space". Marc Andreessen (co-founder of Netscape), Union Square Ventures and Barry Silbert (Bitcoin Investment Trust) are all over it.

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TD Ameritrade’s Apple Watch App Puts Markets On Your Wrist

TD Ameritrade’s Apple Watch App Puts Markets On Your Wrist | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
TD Ameritrade Mobile's new app lets clients view their customized watch lists, stock summary and major indexes on the Apple Watch.
Richard Platt's insight:

ThinkAdvisor spoke with Michael McGrath, managing director of web & mobile strategy for eCommerce at TD Ameritrade, discusses the new Watch app and TD Ameritrade’s place in the mobile technology sphere.  -  “You don’t have to pull out your phone, unlock it, launch the app. It’s right there,” McGrath said. Adding, “As much as we love our phones, and that access it’s given us is great, do you want to keep pulling it out of your pocket to check what’s going on? Whereas, this allows you to have brief interactions and basically keep you connected.”  -  The latest iOS app, released Tuesday, features three screens and lets clients view their customized watch lists, stock summary and major indices on the Apple Watch. It complements TD Ameritrade’s mobile and desktop platform suite allowing clients several options for engaging with the market.  -  Since the Watch app is only available to users of iPhone 5 or newer phones, the audience is somewhat targeted.  While he wouldn’t release a specific number, he said “we’ve seen a good number of users already use the app.”

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Tech firms jockeying for position in mobile wallets

Tech firms jockeying for position in mobile wallets | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
With more consumers willing to make purchases using smartphones, the nation’s top two search giants -- Naver and Daum Kakao -- are rushing to take the lead in the mobile payments market. Naver, the No.

Via Kenneth Carnesi
Richard Platt's insight:

Very interesting story playing out in Korea on how mobile payment players, from Google, Samsung, Apple, and two Korean search giants Naver and Daum Kakao along with Chinese companies like Alibaba's  Alipay and WeChatPay.  Korea as it is starting to turn out is the battlefield for a workable, safe and effective mobile payments system.  Stay tuned for more on this front.

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New Rules Allow Early Adopters to Become Early Investors

New Rules Allow Early Adopters to Become Early Investors | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Were you one of the first to identify Uber as a game changer?  What about being one of the first to use Amazon or Google in the early days? If you had..

Were you one of the first to identify Uber as a game changer?  What about being one of the first to use Amazon or Google in the early days?

If you had invested in Uber (now valued at $40B) in 2011, you would currently be sitting on a 600x return. Unfortunately, unless you were already very wealthy, securities laws would have prevented you from being able to invest in the these companies.

Early adopters have historically been prevented from crossing the threshold from customer to investor. However, a fundamental shift in the relationship between consumers and companies has been set in motion by new SEC regulations set to go into effect on June 19th.

Most early adopters interested in supporting private companies have been limited to rewards-based crowdfunding. This type of crowdfunding has proven to be a poor substitute for true early stage investing. Rewards-based crowdfunding websites such as Kickstarter allow individuals to pre-order products or donate towards something that they want to exist in the world. These “backers” do not get shares or equity in the company. Although these backers take on significant risk, they do not get any significant upside.

The story of Oculus VR is apt. Nearly two years after its celebrated rewards-based crowdfunding raise, Oculus was acquired by Facebook for $2B. Oculus’ early Kickstarter backers felt angered and betrayed. Though they had a sense of ownership in the company, they reaped no benefits from the transaction. Meanwhile, the institutional and accredited investors who invested in Oculus after the Kickstarter campaign (and in large part because of the Kickstarter campaign) made a large amount of money in a short period of time. $300 in equity in Oculus at the time of the Kickstarter campaign would have been worth approximately $45,000, a 145x return.

Successful technology startups owe it to their early adopters to let them participate in the company’s financial success.  These are the people who realized the company’s potential before the public and provided the momentum to turn that potential into a reality. Read more: click on image or title.


Via Marc Kneepkens
Richard Platt's insight:

Here are some of the key takeaways:

  • EMV cards are being rolled out with an embedded microchip for added security. The microchip carries out real-time risk assessments on a person’s card purchase activity based on the card user’s profile. The chip also generates dynamic cryptograms when the card is inserted into a payment terminal. Because these cryptograms change with every purchase, it makes it difficult for fraudsters to make counterfeit cards that can be used for in-store transactions.
  • To bolster security throughout the payments chain encryption of payments data is being widely implemented. Encryption degrades valuable data by using an algorithm to translate card numbers into new values. This makes it difficult for fraudsters to harvest the payments data for use in future transactions.
  • Point-to-point encryption is the most tightly defined form of payments encryption. In this scheme, sensitive payment data is encrypted from the point of capture at the payments terminal all the way through to the gateway or acquirer. This makes it much more difficult for fraudsters to harvest usable data from transactions in stores and online. 
  • Tokenization increases the security of transactions made online and in stores. Tokenization schemes assign a random value to payment data, making it effectively impossible for hackers to access the sensitive data from the token itself. Tokens are often “multiuse,” meaning merchants don’t have to force consumers to re-enter their payment details. Apple Pay uses an emerging form of tokenization. 
  • 3D Secure is an imperfect answer to user authentication online. One difficulty in fighting online fraud is that it is hard to tell whether the person using card data is actually the cardholder. 3D Secure adds a level of user authentication by requiring the customer to enter a passcode or biometric data in addition to payment data to complete a transaction online. Merchants who implement 3D Secure risk higher shopping-cart abandonment.
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Marc Kneepkens's curator insight, June 21, 11:24 AM

Early adopters are part of the success of a startup and should be rewarded for their input and commitment. This article digests the new opportunities.

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Commerce-as-a-Service’s Amazon Complex

Commerce-as-a-Service’s Amazon Complex | Crowd Funding, Micro-funding, New Approach for Investors - Alternatives to Wall Street | Scoop.it
Think consumers are fueling the rise in Commerce-as-a-Service? Think again.

Via Kenneth Carnesi
Richard Platt's insight:

In mid-2014, Frost & Sullivan calculated Alibaba’s B2B eCommerce merchandise value to be $27.28 billion, while China itself is expected to emerge as the largest B2B eCommerce market by 2020. With Alibaba’s recent decision to deploy a B2B business model to strengthen its cross-border commerce operations, analysts are fixing their eyes on the corporation to see just how high it can go.

Historically, retailers looking to jump into digital commerce have sought out Commerce-as-a-Service providers that will provide them with an experience similar to that of Amazon. But as the B2B eCommerce market grows, CaaS providers will need to strengthen their reach to manufacturers and wholesalers. In doing so, experts’ sentiments suggests that both CaaS providers and the B2B sellers they service may want to emulate Alibaba – not Amazon – in achieving online success.

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7 Myths of Startup Financing

How do you successfully pitch your business to investors? As an entrepreneur and venture capitalist, I've been on both sides of the funding process. Here are 7…
Richard Platt's insight:

A quick and useful appreciation for understanding on what you should and shouldn't do when it comes to your start-up.

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