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Clinkle was founded in December 2011 by Lucas Duplan, then a [[computer science]] student at [[Stanford University]].<ref name="nytimes">{{cite web |url=http://bits.blogs.nytimes.com/2013/06/27/silicon-valley-luminaries-bet-on-clinkle-a-payments-start-up/ |title=Silicon Valley Luminaries Bet on Clinkle, a Payments Start-Up |last=Wingfield |first=Nick |date=June 27, 2013 |website=[[New York Times]] |accessdate=January 19, 2014}}</ref><ref name="techcrunch">{{cite web |url=http://techcrunch.com/2013/06/27/clinkle-raises-celebrity-filled-25m-round-as-it-gears-up-to-eliminate-the-physical-wallet/ |title=Clinkle Raises Celebrity-Filled $25M Round As It Gears Up To Eliminate The Physical Wallet |last=Gallagher |first=Billy |date=June 27, 2013 |publisher=[[TechCrunch]] |accessdate=January 19, 2014}}</ref> Duplan had decided to work on mobile payments during a [[study abroad]] program in London after his freshman year.<ref name="techcrunch" />
Clinkle was founded in December 2011 by Lucas Duplan, then a [[computer science]] student at [[Stanford University]].<ref name="nytimes">{{cite web |url=http://bits.blogs.nytimes.com/2013/06/27/silicon-valley-luminaries-bet-on-clinkle-a-payments-start-up/ |title=Silicon Valley Luminaries Bet on Clinkle, a Payments Start-Up |last=Wingfield |first=Nick |date=June 27, 2013 |website=[[New York Times]] |accessdate=January 19, 2014}}</ref><ref name="techcrunch">{{cite web |url=http://techcrunch.com/2013/06/27/clinkle-raises-celebrity-filled-25m-round-as-it-gears-up-to-eliminate-the-physical-wallet/ |title=Clinkle Raises Celebrity-Filled $25M Round As It Gears Up To Eliminate The Physical Wallet |last=Gallagher |first=Billy |date=June 27, 2013 |publisher=[[TechCrunch]] |accessdate=January 19, 2014}}</ref> Duplan had decided to work on mobile payments during a [[study abroad]] program in London after his freshman year.<ref name="techcrunch" />


The company raised $25 million in [[seed money|seed fund]]ing from a broad range of [[Silicon Valley]] investors, including [[Accel Partners]], [[Andreessen Horowitz]], [[Diane Greene]], [[Intuit]], and [[Peter Thiel]].<ref name="allthingsd">{{cite web |url=http://allthingsd.com/20130627/pressure-is-on-stealth-payments-startup-clinkle-as-it-raises-25-million-from-big-name-investors/ |title=Pressure Is on Stealth Payments Startup Clinkle as It Raises $25 Million From Big-Name Investors |last=Del Rey |first=Jason |date=June 27, 2013 |publisher=[[All Things Digital]] |accessdate=January 19, 2014}}</ref><ref name="cnet">{{cite web |url=http://news.cnet.com/8301-1023_3-57591249-93/mobile-payments-startup-clinkle-nabs-$25m-in-early-investments/ |title=Mobile payments startup Clinkle nabs $25M in early investments |last=Tam |first=Donna |date=June 27, 2013 |publisher=[[CNET]] |accessdate=January 19, 2014}}</ref><ref name="cnn">{{cite web |url=http://finance.fortune.cnn.com/2013/06/27/clinkle-25-million-square/ |title=Clinkle raises $25 million to kill Square |last=Primack |first=Dan |date=June 27, 2013 |publisher=[[CNNMoney.com]] |accessdate=January 19, 2014}}</ref><ref name="zdnet">{{cite web |url=http://www.zdnet.com/with-25m-in-the-bank-clinkle-takes-on-mobile-payments-7000017399/ |title=With $25m in the bank, Clinkle takes on mobile payments |last=Nusca |first=Andrew |date=June 27, 2013 |publisher=[[ZDNet]] |accessdate=January 19, 2014}}</ref><ref name="mashable">{{cite web |url=http://mashable.com/2013/06/27/clinkle-25-million/ |title=Startup Clinkle Gets $25 Million to Create Mobile Payment Standard |last=Wasserman |first=Todd |date=June 27, 2013 |publisher=[[Mashable]] |accessdate=January 19, 2014}}</ref><ref name="readwrite">{{cite web |url=http://readwrite.com/2013/06/27/startup-clinkle-has-a-high-frequency-plan-to-push-mobile-payments |title=Startup Clinkle Has A High Frequency Plan To Push Mobile Payments |date=June 27, 2013 |publisher=[[ReadWrite]] |accessdate=January 19, 2014}}</ref><ref name="forbes">{{cite web |url=http://www.forbes.com/sites/tomiogeron/2013/06/27/payments-startup-clinkle-raises-25-million-seed-round/ |title=Payments Startup Clinkle Raises $25 Million Seed Round |last=Geron |first=Tomio |date=June 27, 2013 |website=[[Forbes]] |accessdate=January 19, 2014}}</ref> The funding amounted to largest seed round in Silicon Valley.<ref name="business-insider">{{cite web |url=http://www.businessinsider.com/lucas-duplan-raises-25-million-seed-round-for-clinkle-2013-6 |title=21-Year-Old Raises Largest Seed Round In Silicon Valley History — $25 Million — For Mysterious Payments App |last=Shontell |first=Alyson |date=June 27, 2013 |publisher=[[Business Insider]] |accessdate=January 19, 2014}}</ref> Shortly after, Duplan moved the 50-person company from [[Palo Alto]] to [[San Francisco]].<ref>{{cite web |url=http://venturebeat.com/2013/06/27/clinkle-raises-one-of-largest-seed-rounds-ever-to-transform-how-we-pay-for-things/ |title=Clinkle raises massive $25M seed round to transform how we pay for things |last=Grant |first=Rebecca |date=June 27, 2013 |publisher=[[VentureBeat]] |accessdate=January 23, 2014}}</ref>
The company raised $25 million in [[seed money|seed fund]]ing from a broad range of [[Silicon Valley]] investors, including [[Accel Partners]], [[Andreessen Horowitz]], [[Diane Greene]], [[Intuit]], and [[Peter Thiel]].<ref name="cnet">{{cite web |url=http://news.cnet.com/8301-1023_3-57591249-93/mobile-payments-startup-clinkle-nabs-$25m-in-early-investments/ |title=Mobile payments startup Clinkle nabs $25M in early investments |last=Tam |first=Donna |date=June 27, 2013 |publisher=[[CNET]] |accessdate=January 19, 2014}}</ref><ref name="zdnet">{{cite web |url=http://www.zdnet.com/with-25m-in-the-bank-clinkle-takes-on-mobile-payments-7000017399/ |title=With $25m in the bank, Clinkle takes on mobile payments |last=Nusca |first=Andrew |date=June 27, 2013 |publisher=[[ZDNet]] |accessdate=January 19, 2014}}</ref><ref name="mashable">{{cite web |url=http://mashable.com/2013/06/27/clinkle-25-million/ |title=Startup Clinkle Gets $25 Million to Create Mobile Payment Standard |last=Wasserman |first=Todd |date=June 27, 2013 |publisher=[[Mashable]] |accessdate=January 19, 2014}}</ref><ref name="readwrite">{{cite web |url=http://readwrite.com/2013/06/27/startup-clinkle-has-a-high-frequency-plan-to-push-mobile-payments |title=Startup Clinkle Has A High Frequency Plan To Push Mobile Payments |date=June 27, 2013 |publisher=[[ReadWrite]] |accessdate=January 19, 2014}}</ref><ref name="forbes">{{cite web |url=http://www.forbes.com/sites/tomiogeron/2013/06/27/payments-startup-clinkle-raises-25-million-seed-round/ |title=Payments Startup Clinkle Raises $25 Million Seed Round |last=Geron |first=Tomio |date=June 27, 2013 |website=[[Forbes]] |accessdate=January 19, 2014}}</ref> The funding amounted to largest seed round in Silicon Valley.<ref name="business-insider">{{cite web |url=http://www.businessinsider.com/lucas-duplan-raises-25-million-seed-round-for-clinkle-2013-6 |title=21-Year-Old Raises Largest Seed Round In Silicon Valley History — $25 Million — For Mysterious Payments App |last=Shontell |first=Alyson |date=June 27, 2013 |publisher=[[Business Insider]] |accessdate=January 19, 2014}}</ref> Shortly after, Duplan moved the 50-person company from [[Palo Alto]] to [[San Francisco]].<ref>{{cite web |url=http://venturebeat.com/2013/06/27/clinkle-raises-one-of-largest-seed-rounds-ever-to-transform-how-we-pay-for-things/ |title=Clinkle raises massive $25M seed round to transform how we pay for things |last=Grant |first=Rebecca |date=June 27, 2013 |publisher=[[VentureBeat]] |accessdate=January 23, 2014}}</ref>


Clinkle announced on September 26, 2013 that after only two months of opening their college wait lists, over 100,000 students have signed up.<ref name="entrepreneur">{{cite web |url=http://www.entrepreneur.com/article/228593/ |title=Richard Branson Invests in a Startup That No One Understands Yet |last=Huspeni |first=Andrea |year=2013 |website=[[Entrepreneur (magazine)|Entrepreneur]] |accessdate=January 19, 2014}}</ref><ref name="gigaom">{{cite web |url=http://gigaom.com/2013/09/26/clinkle-becomes-a-tech-celebrity-magnet-landing-richard-branson-as-an-investor/ |title=Clinkle becomes a tech celebrity magnet, landing Richard Branson as an investor |last=Fitchard |first=Kevin |date=September 26, 2013 |publisher=[[GigaOM]] |accessdate=January 19, 2014}}</ref> In October 2013 former [[Netflix]] [[chief financial officer]] Barry McCarthy became Clinkle's [[chief operating officer]],<ref>{{cite web |url=http://finance.fortune.cnn.com/2013/10/22/netflix-payments-clinkle/ |title=Ex-Netflix CFO joins stealth payments startup Clinkle |last=Primack |first=Dan |date=October 22, 2013 |publisher=[[CNNMoney.com]] |accessdate=January 23, 2014}}</ref> and two more former Netflix executives later joined as [[vice president]]s.<ref>{{cite web |url=http://techcrunch.com/2013/12/04/clinkle-is-the-new-netflix/ |title=Stealthy Payments Startup Clinkle Brings On Two Former Netflixers To Fill Out Its Exec Ranks |last=Lawler |first=Ryan |date=December 4, 2013 |publisher=[[TechCrunch]] |accessdate=January 23, 2014}}</ref>
In October 2013 former [[Netflix]] [[chief financial officer]] Barry McCarthy became Clinkle's [[chief operating officer]],<ref>{{cite web |url=http://finance.fortune.cnn.com/2013/10/22/netflix-payments-clinkle/ |title=Ex-Netflix CFO joins stealth payments startup Clinkle |last=Primack |first=Dan |date=October 22, 2013 |publisher=[[CNNMoney.com]] |accessdate=January 23, 2014}}</ref> and two more former Netflix executives later joined as [[vice president]]s.<ref>{{cite web |url=http://techcrunch.com/2013/12/04/clinkle-is-the-new-netflix/ |title=Stealthy Payments Startup Clinkle Brings On Two Former Netflixers To Fill Out Its Exec Ranks |last=Lawler |first=Ryan |date=December 4, 2013 |publisher=[[TechCrunch]] |accessdate=January 23, 2014}}</ref>

==Product==
Clinkle released an app for download on [[Google Play]] and the [[iTunes Store]]. The current versions have very limited functionality and only allow users to join a waitlist.<ref>{{cite web |url=http://gigaom.com/2013/06/27/stanfords-25m-secret-payments-startup-clinkle-wants-to-make-your-college-cashless/ |title=Stanford's $25M secret: Payments startup Clinkle wants to make your college cashless |last=Fitchard |first=Kevin |date=June 27, 2013 |publisher=[[GigaOM]] |accessdate=January 23, 2014}}</ref>

The company intends to first launch on college campuses and target merchants near college campuses.<ref name="nytimes" /><ref name="allthingsd">{{cite web |url=http://allthingsd.com/20130627/pressure-is-on-stealth-payments-startup-clinkle-as-it-raises-25-million-from-big-name-investors/ |title=Pressure Is on Stealth Payments Startup Clinkle as It Raises $25 Million From Big-Name Investors |last=Del Rey |first=Jason |date=June 27, 2013 |publisher=[[All Things Digital]] |accessdate=January 19, 2014}}</ref><ref name="cnn">{{cite web |url=http://finance.fortune.cnn.com/2013/06/27/clinkle-25-million-square/ |title=Clinkle raises $25 million to kill Square |last=Primack |first=Dan |date=June 27, 2013 |publisher=[[CNNMoney.com]] |accessdate=January 19, 2014}}</ref> Clinkle announced on September 26, 2013 that after only two months of opening their college wait lists, over 100,000 students have signed up.<ref name="entrepreneur">{{cite web |url=http://www.entrepreneur.com/article/228593/ |title=Richard Branson Invests in a Startup That No One Understands Yet |last=Huspeni |first=Andrea |year=2013 |website=[[Entrepreneur (magazine)|Entrepreneur]] |accessdate=January 19, 2014}}</ref><ref name="gigaom">{{cite web |url=http://gigaom.com/2013/09/26/clinkle-becomes-a-tech-celebrity-magnet-landing-richard-branson-as-an-investor/ |title=Clinkle becomes a tech celebrity magnet, landing Richard Branson as an investor |last=Fitchard |first=Kevin |date=September 26, 2013 |publisher=[[GigaOM]] |accessdate=January 19, 2014}}</ref>


== References ==
== References ==

Revision as of 08:34, 24 January 2014

Clinkle
Company typePrivately held company
IndustryMobile payments
FoundedPalo Alto, California, United States (December 2011 (2011-12))
FounderLucas Duplan (CEO)
Headquarters
San Francisco
,
United States
Number of employees
50 (2013)
Websitewww.clinkle.com

Clinkle is a mobile payments startup company.

History

Clinkle was founded in December 2011 by Lucas Duplan, then a computer science student at Stanford University.[1][2] Duplan had decided to work on mobile payments during a study abroad program in London after his freshman year.[2]

The company raised $25 million in seed funding from a broad range of Silicon Valley investors, including Accel Partners, Andreessen Horowitz, Diane Greene, Intuit, and Peter Thiel.[3][4][5][6][7] The funding amounted to largest seed round in Silicon Valley.[8] Shortly after, Duplan moved the 50-person company from Palo Alto to San Francisco.[9]

In October 2013 former Netflix chief financial officer Barry McCarthy became Clinkle's chief operating officer,[10] and two more former Netflix executives later joined as vice presidents.[11]

Product

Clinkle released an app for download on Google Play and the iTunes Store. The current versions have very limited functionality and only allow users to join a waitlist.[12]

The company intends to first launch on college campuses and target merchants near college campuses.[1][13][14] Clinkle announced on September 26, 2013 that after only two months of opening their college wait lists, over 100,000 students have signed up.[15][16]

References

  1. ^ a b Wingfield, Nick (June 27, 2013). "Silicon Valley Luminaries Bet on Clinkle, a Payments Start-Up". New York Times. Retrieved January 19, 2014.
  2. ^ a b Gallagher, Billy (June 27, 2013). "Clinkle Raises Celebrity-Filled $25M Round As It Gears Up To Eliminate The Physical Wallet". TechCrunch. Retrieved January 19, 2014.
  3. ^ Tam, Donna (June 27, 2013). "Mobile payments startup Clinkle nabs $25M in early investments". CNET. Retrieved January 19, 2014.
  4. ^ Nusca, Andrew (June 27, 2013). "With $25m in the bank, Clinkle takes on mobile payments". ZDNet. Retrieved January 19, 2014.
  5. ^ Wasserman, Todd (June 27, 2013). "Startup Clinkle Gets $25 Million to Create Mobile Payment Standard". Mashable. Retrieved January 19, 2014.
  6. ^ "Startup Clinkle Has A High Frequency Plan To Push Mobile Payments". ReadWrite. June 27, 2013. Retrieved January 19, 2014.
  7. ^ Geron, Tomio (June 27, 2013). "Payments Startup Clinkle Raises $25 Million Seed Round". Forbes. Retrieved January 19, 2014.
  8. ^ Shontell, Alyson (June 27, 2013). "21-Year-Old Raises Largest Seed Round In Silicon Valley History — $25 Million — For Mysterious Payments App". Business Insider. Retrieved January 19, 2014.
  9. ^ Grant, Rebecca (June 27, 2013). "Clinkle raises massive $25M seed round to transform how we pay for things". VentureBeat. Retrieved January 23, 2014.
  10. ^ Primack, Dan (October 22, 2013). "Ex-Netflix CFO joins stealth payments startup Clinkle". CNNMoney.com. Retrieved January 23, 2014.
  11. ^ Lawler, Ryan (December 4, 2013). "Stealthy Payments Startup Clinkle Brings On Two Former Netflixers To Fill Out Its Exec Ranks". TechCrunch. Retrieved January 23, 2014.
  12. ^ Fitchard, Kevin (June 27, 2013). "Stanford's $25M secret: Payments startup Clinkle wants to make your college cashless". GigaOM. Retrieved January 23, 2014.
  13. ^ Del Rey, Jason (June 27, 2013). "Pressure Is on Stealth Payments Startup Clinkle as It Raises $25 Million From Big-Name Investors". All Things Digital. Retrieved January 19, 2014.
  14. ^ Primack, Dan (June 27, 2013). "Clinkle raises $25 million to kill Square". CNNMoney.com. Retrieved January 19, 2014.
  15. ^ Huspeni, Andrea (2013). "Richard Branson Invests in a Startup That No One Understands Yet". Entrepreneur. Retrieved January 19, 2014.
  16. ^ Fitchard, Kevin (September 26, 2013). "Clinkle becomes a tech celebrity magnet, landing Richard Branson as an investor". GigaOM. Retrieved January 19, 2014.


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