Thanks for sharing this...very informative.
Okay..from this article. We have Big players in these payment system, we have Square and Level up , Braintree ( venmo), Intuit , Paypal , Fiserv, Zipmark ( of course with MYEC) and Dwolla .
Here are the key points here. There are only few start ups, so we have very few competitions. The business will be good. Intuit alone is processing 38 billion dollars a year in payment! Out of these companies listed. There are only 2 that are publicly traded companies- our competitors .. Intuit ( trading at $63 ) ebay/paypal ( $ 50) Myec ?.... ( .0053 ) ! Lucky that we get part of this - at a discounted price.
One more key point: Jay Bhattacharya , founder of Zipmark , is a former Citi Executive who launch financial ventures..Then his latest venture, Mobile Money Ventures, a startup backed by Citi was acquired by Intuit. He has Huge connections for us.
Another key point: Intuit has 8200 employees ( how many are processing the e- check I dont know ) same as Ebay 30,000 , Square has 24 employees , MYEC ? 1 employee . I know that Ed will hire more later as he intended to do so before the crash .. But he needs to hire more than one to Grow, we need to catch up with the demand of this payment system or these contracts may go to someone else's hand.
I am hoping that Ed's dream and plan is to get this company back to NASDAQ, meaning we will be trading in dollar(s) range. We will have certain numbers of shareholder. etc etc.. I hope he share his vision of this company to us. ( By the way.. I wont mind of a buyout too..! ) Is that too much to ask?... what else do I want??... Let me think...
