VENMO COMES OF AGE
Under parent company PayPal, the millennial-focused peer-to-peer payments app has gotten serious.
by Ruth Reader
Apr 17, 2017
3 minutes
It started with a simple dare: All Mike Linshi had to do was buy a certain shirt from a store nearby and wear it.
The bet was offered up in the easy evening hours after a music and innovation festival in Brooklyn two years ago. There was just something so funny about the thought of Linshi in that particular shirt that Iqram Magdon-Ismail and Andrew Kortina, cofounders of the New York–based peer-to-peer payment app Venmo, bet their colleague $50,000 he wouldn’t wear it. The sum was set high “just to
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