Venmo has 40 million users, PayPal reveals for first time [CNBC]
Just Eat Takeaway.com N.V. - American Depositary Shares (GRUB)
Last just eat takeaway.com n.v. - american depositary shares earnings: 2/5 04:05 pm
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Source: CNBC
Venmo has 40 million users, PayPal reveals for first time Popular payment app Venmo has ushered in 40 million users to the platform, its parent company PayPal announced on Wednesday. This is the first time In its first-quarter earnings report, PayPal said it now has a total 277 million total customer accounts — including 22 million merchant accounts. Total payment volume for Venmo grew 73 percent year over year to $21 billion in the first quarter, the company said. PayPal said Venmo is still on pace to do $100 billion in payment volume this year. "Venmo continues its significant momentum," PayPal CEO Dan Schulman said on a call with analysts. "As user growth continues to accelerate, merchants are increasingly turning to Venmo as a way to attract a valuable and engaged consumer base." Square Venmo has announced partnerships with Chipotle, GrubHub, Uber among other merchants. These partnerships are a key way the app brings in revenue. Schulman said Venmo has annual revenue of $300 milli
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