For One Day Only: $1=$4, Thanks to Matching from BIG Donors
This article first appeared on JewishBusinessNews
PayPal co-founder Max Levchin netted a reported $34 million when his brainchild was sold to eBay in 2002 for $1.5 billion. Ever since that day, the sometimes weird whiz kid Levchin, now 39, has been trying to do it again.
Now he told the San Jose Mercury News that he did.
Actually, he has been into another impressive project since PaPal, helping to start Yelp, the gripe and review site which is worth about $5.4 billion, and then there was Slide, a social gaming site that Google bought in 2010 for an estimated $200 million.
Now Levchin has launched Affirm, an online lending platform that offers personalized financing for. He announced last June that Affirm had raised $45 million in its first venture capital funding round. And people are paying attention, expecting Affirm to reach a PayPal kind of success.
Like PayPal, Affirm uses the Internet to move money around, in a secure fashion, which has the potential of peeling off yet another traditional bastion of global financial institutions, offering consumers buying power they never had before.
“I’m not trying to correct the wrongs of the past,” Levchin told the San Jose Mercury News. “But the underlying structure of the finance industry is still decrepit.”
Affirm offers consumers, especially young people, who don’t yet have cash or credit to their names, the financing they need to make big purchases, with delayed payments and monthly payment plans, helping them stay away from the scourge of credit card debt.
Scott Banister, an investor and former business partner of Levchin’s, described Affirm as “Max getting back into financial services with everything he learned from PayPal. You will definitely see big things.”
Levchin grew up in Kiev, Ukraine, in a Jewish family that fled rising anti-Semitism for Chicago, where they arrived when Max was 16.
About the Author: Tibbi Singer is a veteran contributor to publications such as Israel Shelanu and the US supplement of Yedioth, and Jewish Business News.
If you don't see your comment after publishing it, refresh the page.
Comments are closed.
Remind Sen. Chuck Schumer that he said any deal with Iran must include “anywhere, anytime” inspections.
The four men were returning from a basketball game near the Israeli community of Shvut Rachel when Palestinian Authority gunmen opened fire on their car in what security sources believe to have been a premeditated ambush.
The funeral for Rabbi Yekutiel Menachem Rapp is to pass by 770 Eastern Parkway Tuesday at 3:45 pm ET.
The United States and the other P5+1 powers unsurprisingly have extended the June 30 deadline for reaching an agreement to supervise and limit Iran’s nuclear development program. The extension is for one week, until July 7. As The JewishPress.com reported here earlier this week, “deadline” has a different meaning in the Muslim Middle East than […]
Malachi Moshe Rosenfeld, 25, lived in the community of Kochav HaShachar in Samaria.
“The PA message to Washington is they want peace. The PA message to their kids is killing Israelis is heroic. It’s time the U.S. figured out which is the true message.”
The agreement does not mean that Orange is leaving Israel, despite wrong headlines elsewhere.
ISIS executioners the past 12 months have murdered 3,000 people, including 86 women and 74 children.
The Tzohar rabbinic organization is focusing on how Anglo immigrants “fit” into Israel’s mosaic this summer.
PM Binyamin Netanyahu warned world leaders they must take a stand against terror in Israel as well.
Two US churches vote on BDS anti-Semitic motions today. One is to vote Wednesday. Millions could be affected.
Israel’s government approves new security fencing along its eastern border.
The father of a critically injured victim of Monday’s road terror attack in Binyamin asks people to pray for his son.
Some Chareidi men fishing on the beach, near the Ashdod port.
Chabad-Lubavitch Rabbi Yekutiel Rapp, 66, is struck and killed by a hit-and-run driver in Crown Heights.
The average Israeli is remarkably stupid and thick-headed when it comes to the sanctity of freedom of speech.
Mayor Shimoni was looking to provide security, albeit in an unpopular way, because his prime minister has not been able to. Calling him names does not change the fact that Israeli civilians are not safe from being murdered in the street by blood-crazy Arab individuals.
If anyone has had any delusions about this not being a religious war, and anything but a religious war, one need only connect the images that are emerging from this morning’s massacre of four Jewish men in the middle of their morning prayer to the images of Jews massacred in Hebron, in 1929.
Published at Jewish Business News. It began last year with an announcement by Israel’s Ministry of Education, of a pilot study using digitally converted books and other teaching materials, which students would access with their tablets. Legally, teaching with tablets in Israeli schools is contingent on parental consent, especially since it’s the parents who were […]
Jon Stewart has opted, voluntarily and without pressures, out of the Jewish timeline. I suspect the bitterness in Stewart’s note is related to that decision.
Published at Jewish Business News. Forget the old, scary Ku Klux Klan, welcome to the newly branded Klan, the Rocky Mountain Knights, which offers membership to Jews, Blacks, Gays and Latinos. This could all be a conspiracy thought up by Bed, Bath and Beyond, to sell more white sheets. Because no matter who you are, […]
Printed from: http://www.jewishpress.com/news/breaking-news/max-levchin-looking-to-repeat-paypal-success-with-affirm/2014/08/17/
Scan this QR code to visit this page online: