WePay Announces 70% Month Over Month Revenue Growth, Over 25 Open Positions

04/08/11
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The Simplest Way to Accept Payments Online Grows 70% in February Alone; Over 25,000 People Use WePay Every Week

PALO ALTO, Calif., April 8, 2011 — WePay, the easiest way to accept payments online, is announcing strong user adoption and 20 open positions listed at wepay.com/jobs. WePay’s product makes it easy for anyone to collect money online by sending bills, selling tickets or collecting donations.

“Payments is a competitive business dominated by large companies intent on profit squeezing at the customer’s expense,” said Bill Clerico, CEO. “The waves of users defecting to WePay are tired of being mistreated. They demand better customer service, easy setup, great design and fair fees.”

Following a $7.5 million investment in July by Highland Capital Partners and August Capital, WePay’s growth has continued to accelerate, with revenues increasing 70% in February alone.

In addition to its rapid growth, the company celebrated additional achievements:

•Helped over 5000 causes raise money for charity, including Black Eyed Peas’ singer Will.I.Am’s i.am home Fund

 

•Established itself as an industry leader in customer satisfaction: 98% of WePay users stated they would be disappointed if they could no longer use WePay; 99% would recommend it to a friend

 

•User adoption on over 250 university campuses

 

•The launch of wepay.com/Giving, a showcase for charitable efforts by WePay users

 

To sustain this growth, WePay is rapidly expanding its team. The company intends to hire at least 25 people in the next 90 days.

WePay’s primary driver of growth is user sharing via email, Facebook and Twitter. “The adoption of WePay to date has far exceeded any of our initial expectations,” said Clerico. “It is clear we are rapidly becoming the preferred online payment platform.”

The company focuses on removing friction from the account setup process, which is typically a tedious and drawn-out activity. Most WePay customers finish their setup process in less than 60 seconds.

“It has been truly impressive to see what our users are capable of when they are empowered by a simple payments tool,” said Richard Aberman, Co-Founder. “We’ve seen our users collect money for everything from a homeowners association to a carpool.”

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