Venmo was originally a sub company under Braintree. But Pay Pal bought Braintree and became a super company. Venmo being backed up with Pay Pal is a Corporate owner-centered enterprise. This is because Pay Pal is a Corporate organization but they are gaining their revenue with the users that are using the Venmo app. Van Djick states, “A large, active, and demographically interesting user base is usually a platform’s most precious asset.” This is what Venmo goes after too. We as millennials don’t normally have cash on us and when we go out with friends and the bill comes this makes it easier for one person to pay the bill than everyone else can send them the share.
Sources:
Van Djick, Jose, “Chapter 2: Disassembling Platforms, Reassembling Sociality,” The Culture of Connectivity: A Critical History of Social Media, Oxford, NY, New York, 2013.
Rao, Leena. “PayPal’s Payments App Venmo Has Its Biggest Month Ever.” February 16, 2016. Accessed February 20, 2017. http://fortune.com/2016/02/16/venmo-billion/.
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