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reverting this back to original information; new information not reliable and conflicts with techcrunch/other sources here, is from anon ip address and links to personal blog post
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| caption = Ribbon logo
| caption = Ribbon logo
| foundation = 2011
| foundation = 2011
| founders = Devan Koshal, Hany Rashwan
| founders = Hany Rashwan
| location = [[San Francisco, California]]
| location = [[San Francisco, California]]
| industry = [[Technology]]
| industry = [[Technology]]
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'''Ribbon''' is a San Francisco payments [[Startup company|startup]] that lets users sell online using a shortened URL that can be shared across email, social media and a seller's own website.<ref>[http://techcrunch.com/2013/04/10/payments-startup-ribbon-now-lets-you-buy-right-on-twitter-com-launches-youtube-support-price-matches-paypal/ "Payments Startup Ribbon Now Lets You Buy In-Stream On Twitter.com, Launches YouTube Support & Price-Matches PayPal"] TechCrunch.</ref> The service focuses on bring integrated checkouts directly to platforms like [[Facebook]], [[YouTube]], and [[Twitter]] letting buyers purchase without leaving those services. Ribbon charges a fee of 2.9% + $0.30 per transaction.
'''Ribbon''' is a San Francisco payments [[Startup company|startup]] that lets users sell online using a shortened URL that can be shared across email, social media and a seller's own website.<ref>[http://techcrunch.com/2013/04/10/payments-startup-ribbon-now-lets-you-buy-right-on-twitter-com-launches-youtube-support-price-matches-paypal/ "Payments Startup Ribbon Now Lets You Buy In-Stream On Twitter.com, Launches YouTube Support & Price-Matches PayPal"] TechCrunch.</ref> The service focuses on bring integrated checkouts directly to platforms like [[Facebook]], [[YouTube]], and [[Twitter]] letting buyers purchase without leaving those services. Ribbon charges a fee of 2.9% + $0.30 per transaction.


⚫
The company graduated from a startup accelerator called [[AngelPad]] as "Kout" in October 2011<ref>[http://allthingsd.com/20111018/former-googlers-angelpad-graduates-15-more-start-ups/ "Former Googlers’ AngelPad Graduates 15 More Start-Ups"] AllThingsD,</ref> and subsequently raised $1.6 million from [[Tim Draper]] through [[Draper Associates]], Naguib Sawiris, Emil Michael, Gokul Rajaram, and others bringing its total raised amount to $1.75 million.<ref>[http://techcrunch.com/2013/02/05/payments-startup-ribbon-raises-1-6m-from-tim-draper-others-launches-new-way-to-take-payments-directly-in-the-facebook-news-feed/ "Ribbon Raises $1.6M From Tim Draper & Others, Launches New Way To Take Payments Directly In The Facebook News Feed"] TechCrunch.</ref><ref>[http://www.crunchbase.com/company/ribbon/ "Ribbon | Crunchbase Profile"] Crunchbase.</ref>
Ribbon was originally founded by Devan Koshal in the United Kingdom,<ref>http://www.bizjournals.com/columbus/print-edition/2011/08/12/10x-kout-giving-online-businesses.html</ref> having built the first version as a teenager during his gap year in [[Northampton]], UK. Back then it was known as Kout. In 2011 he dropped out of his first year at the University of Essex to pursue the Idea full time.<ref>https://medium.com/@devankoshal/kout-the-first-4-years-7e236837fe08</ref> After taking the idea to America and having been accepted into the equity-free 10xcelerator incubator in Columbus Ohio, he was introduced to Hany Rashwan who quickly joined as a cofounder. The pair then moved to San Francisco half way through the 10x program to take part in the [[AngelPad]] incubator and graduated from the program in October 2011.<ref>http://www.bizjournals.com/columbus/blog/2011/08/10x-e-payments-team-kout-moves-to-san.html</ref><ref>[http://allthingsd.com/20111018/former-googlers-angelpad-graduates-15-more-start-ups/ "Former Googlers’ AngelPad Graduates 15 More Start-Ups"] AllThingsD,</ref>

In 2012, Devan Koshal lost control of the company during a founder split and went on to create and launch [http://trychec.com Chec] (the name having been taken from the first 4 letters of checkout, Kout being the last 4).<ref>https://medium.com/@devankoshal/kout-the-first-4-years-7e236837fe08</ref>

⚫
Hany went on to publicly launch Kout as Ribbon later that year and subsequently raised $1.6 million from [[Tim Draper]] through [[Draper Associates]], Naguib Sawiris, Emil Michael, and others bringing its total raised amount to $1.75 million.<ref>[http://techcrunch.com/2013/02/05/payments-startup-ribbon-raises-1-6m-from-tim-draper-others-launches-new-way-to-take-payments-directly-in-the-facebook-news-feed/ "Ribbon Raises $1.6M From Tim Draper & Others, Launches New Way To Take Payments Directly In The Facebook News Feed"] TechCrunch.</ref><ref>[http://www.crunchbase.com/company/ribbon/ "Ribbon | Crunchbase Profile"] Crunchbase.</ref>


==Twitter shutdown==
==Twitter shutdown==

Revision as of 08:39, 24 November 2015

Ribbon
Company typePrivate
IndustryTechnology
Founded2011
FoundersHany Rashwan
HeadquartersSan Francisco, California
Websitewww.ribbon.co

Ribbon is a San Francisco payments startup that lets users sell online using a shortened URL that can be shared across email, social media and a seller's own website.[1] The service focuses on bring integrated checkouts directly to platforms like Facebook, YouTube, and Twitter letting buyers purchase without leaving those services. Ribbon charges a fee of 2.9% + $0.30 per transaction.

The company graduated from a startup accelerator called AngelPad as "Kout" in October 2011[2] and subsequently raised $1.6 million from Tim Draper through Draper Associates, Naguib Sawiris, Emil Michael, Gokul Rajaram, and others bringing its total raised amount to $1.75 million.[3][4]

Twitter shutdown

On April 10, 2013 the company announced support for "in-stream" payments on Twitter, allowing buyers to purchase items without leaving the Twitter.com stream. Twitter shut down Ribbon's API access after approximately an hour and a half, according to Head of Business Development, Daniel Brusilovsky.[5] Ribbon requested permission to show video cards, but after receiving permission then switched the url to show the hacked checkout system.[6] The company wrote a statement announcing they will revert to showcasing only a summary of their product without the ability to do in-stream payments.[7] As of April 11, 2013 Ribbon links inside Twitter no longer work in-stream and buyers are redirected to purchase on the Ribbon website.

References

  1. ^ "Payments Startup Ribbon Now Lets You Buy In-Stream On Twitter.com, Launches YouTube Support & Price-Matches PayPal" TechCrunch.
  2. ^ "Former Googlers’ AngelPad Graduates 15 More Start-Ups" AllThingsD,
  3. ^ "Ribbon Raises $1.6M From Tim Draper & Others, Launches New Way To Take Payments Directly In The Facebook News Feed" TechCrunch.
  4. ^ "Ribbon | Crunchbase Profile" Crunchbase.
  5. ^ http://www.informationweek.com/development/web/twitter-kills-ribbon-payment-button-in-t/240152662
  6. ^ "Well, That Was Fast: Twitter Already Shut Down Ribbon’s Newly Launched In-Stream Payments Feature" TechCrunch.
  7. ^ "An Update on Ribbon and Twitter" Ribbon Blog
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