Affirm, the small business lending startup headed by Max Levchin, has raised $320 million to date. Apparently, even Levchin, a PayPal founder, views that as, well, a lot. Yesterday, in a wide-ranging interview with Inc. magazine, Levchin called out fintech for being “oversaturated” and “overinvested.” In other words, we’ve gotRead More
Post Tagged with: "Andreessen Horowitz"
WhatsApp has 450 million active mobile users. JPMorgan Chase & Co. has 15.6 million, most among any bank in the US. WhatsApp has 32 engineers. JPM employs 260,000. That’s the deficiency of banks in a nutshell. If you don’t “get” why Facebook has agreed to pay around $19 billion for WhatsApp,Read More
There’s something brewing in Silicon Valley: a growing crew of venture capitalists are beginning to talk about starting a bank. Among those VCs with banking interests are Marc Andreessen of Horowitz Andreessen and Mo Koyfman at Spark Capital. The whole notion percolated on Twitter yesterday. In a Twitter conversation aboutRead More