Comments on: Obopay Gets $20M to Send Money via Mobiles

By: Robert

Robert — Tue, 30 Sep 2008 06:21:18 +0000

Feedback, for my own info how do you check their daily usage count?

By: Malcolm

Malcolm — Fri, 26 Sep 2008 20:25:21 +0000

When we looked at using carriers through premium SMS services offered, to make sales/payments the carriers wanted 50%-60% of the transaction price/fee if billed to a phone, and we were told that any charge on a phone bill, could be disputed and has to be immediately removed - hence high cost of service fee’s.

We consulted with CellTrust - a Scotsdale Ariz. based text messaging company - who provided us with carrier payout rates, and we just couldn’t figure out who would work with such a bizmodel - except perhaps for ringtones! :)

So we are extremly curious, if not down right intrigued, with how these new companies work, and their viability.

How does Zong or others that have the carriers charge customers, avoid the heavy transaction fee’s? Have they renegotiated or do they require a credit card on file?

Love to know the business model for Zong; Textpayme.com and others using carriers as a transaction source - what are the numbers? Anyone?

By: Moving Money Online Still Needs Work - GigaOM

Moving Money Online Still Needs Work - GigaOM — Fri, 26 Sep 2008 13:47:56 +0000

[...] The growing use of smartphones and shopping sites optimized for mobiles require payment options that are easier than keying in a 16-digit credit card number. Startups such as angel-backed Billing Revolution and Zong, which launched earlier this month after raising more than $12 million in venture capital, are tackling the problem of buying on your mobile phone. Zong sends purchase information to carriers, who then bill the subscriber for their purchases, and Billing Revolution offers a mobile credit card processing platform. In April, Obopay scored $20 million for its money-transfer-via-mobile efforts. [...]

By: Guri

Guri — Wed, 14 May 2008 19:37:36 +0000

They have no idea of the money transfer business, they will go bankrupt faster than you think. Wait and see.

By: gautam

gautam — Wed, 23 Apr 2008 13:57:51 +0000

20 mn to send money from one mobile to anoter, raised 66 mn,been around for better part of a decade, and less than a few hundred transactions !

Seems a bit far fetched. Where is this headed.

To my mind smaller , but equally well known start ups, with 10 x transactions a day, but 1/10th of their fund raise - are in the market.

So what does this say for valuation !

By: Obopay takes $20M for mobile payment software » VentureBeat

Obopay takes $20M for mobile payment software » VentureBeat — Tue, 22 Apr 2008 01:31:15 +0000

[...] send money through their mobile phones or over the web, has taken a $20 million round, according to GigaOm. While Obopay competes with PayPal, as well as some other, smaller startups, there’s [...]

By: hopeful

hopeful — Sun, 20 Apr 2008 16:33:49 +0000

The first comment is so right to the point.
Welcome Dilution. A struggle to survive before the last nail on the coffin.

By: Stacey Higginbotham

Stacey Higginbotham — Fri, 18 Apr 2008 13:30:17 +0000

@feedback, that could be one reason Realini wouldn’t give any numbers regarding Obopay’s users or dollars transferred so far. It may also explain its willingness to open up the network so users can send money to non-users.

However, money transfers are the big goal here, and the company just launched its money transfer program in India in March. I’d wait a bit and see if cross border transfers lead to more users.

By: gianluca carrera

gianluca carrera — Fri, 18 Apr 2008 08:46:04 +0000

Wow! I didn’t know Obopay. I love the idea. Shame is not in Europe yet. Would use them instantly.

By: feedback

feedback — Fri, 18 Apr 2008 05:08:06 +0000

Feedback:

Obopay after several rounds is not going anywhere. Their daily user count for the last month seems to less than 100 (yes one hundred, not thousand!). Let's give them the benefit of doubt, say they have 1K daily users.

$66M total for less than 1K daily users! For 100 users, you do the math! WOW!

By: Joe Tumminaro

Joe Tumminaro — Fri, 18 Apr 2008 02:42:20 +0000

Ilove obopay

By: ObopayUser

ObopayUser — Fri, 18 Apr 2008 00:32:01 +0000

“She and other Obopay executives contributed to the round
by wiring their investments to the company coffers by way
of their Obopay accounts on their mobile phones.

Yes, it’s a gimmick, but it’s also a very real indication
of Obopay’s determination.”

Determination ? I think the right word is dilution of
stocks!