

WePay’s (YC S09) Group Payments Get Some Big-Name Backers, Including Max Levchin - aberman
http://www.techcrunch.com/2009/12/23/wepay-group-payments/

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m0th87
For those who don't want to be charged a 3.5% transaction fee and are willing
to work with a lot less features, there's always <http://billshare.org/>

Me and my roommates use it and it has suited our needs fine for years

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varenc
One of the big differences I see here is that billshare doesn't handle the
money! WePay actually handles accepting the payment, and distributing the
funds. You can then get a check, or better in many cases, spend it using a
WePay debit card!

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m0th87
Like I said, it has a lot less features :)

All it really does is expense tracking - you can post bills, and find out who
owes who how much. There are also some semi-vanity features like stats on
where the group is spending its money.

I think billshare is good enough when you know the people in the group and can
trust them to repay you when necessary. Otherwise WePay is probably the way to
go.

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richardburton
My first company, <http://www.hoodeasy.com>, has worked pretty well using this
model. We're a middle-man between clothing suppliers and groups of students.
Our selling point is the ease of group-ordering. Our margins are a lot higher
than around 3% gross but we have a very niche focus. Another startup in the
UK, <http://www.wigadoo.com>, tried to do lead-gen for group-bookings of
holidays and really struggled. They folded around August 09. Group ordering is
definitely an interesting space. Sites like <http://www.groupon.com> have the
model just perfect because they focus on facilitating the mass-sale of high-
margin products where the fixed costs of those business are quite high. I wish
WePay all the best.

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iamelgringo
Congrats, Guys. I really like what you're doing. Keep up the good work.

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vaksel
is there some deadline for investments or something? Seems like this week
we've had one big investment after another

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ceredona
just because they announced now, doesn't mean they raised money recently

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vaksel
oh no I know that, I just mean that there's been a ton of announcements these
past couple of days.

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toivotuo
Congrats to WePay on the funding, but I can't help but notice a similarity
between our and their business cards! ;-)

<http://www.flickr.com/photos/toivotuo/2857596922/> (scred.com)

<http://img17.yfrog.com/i/f2w.jpg/> (wepay.com)

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goatforce5
I can't help but notice a similarity between your business cards and Visa's
credit cards! ;-)

