Before or mobile payment, PayPal co-founder come back with his new company

cloud network hunting on May 25 (compile: hai-na wang)

distance Max Levchin (Max Levchin co-founded Paypal) and sold to Ebay for $1.5 billion for 10 years, today he finally out of the trough.

to be honest, use the word “trough” is in the insult others, after all, not every young people to create a multi-billion dollar company. For young levchin, because Paypal gave his keen insight for new things in silicon valley and firm belief in success will come, so he wanted to dig their potential to more value.

levchin latest mobile payments company, founded in the recently won a $275 million bond and equity financing, investors including Spark Capital, Andreessen Horowitz, etc. The huge financing will be a good influence on Affirm, helping it to compete for the younger generation of lending market, it in a competitive, rapidly changing a foothold in the capital market. At the same time, it also a high-profile announced levchin since founded PayPal again big return payment services.

he is ready to play a prominent role in financial services.

levchin, the computer science talent, from Ukraine was Paypal first chief technology officer and co-founder, since eBay (eBay) acquisition of Paypal, also is in 2002, he left the financial industry. He continued to consolidate its senior position of investors in silicon valley. Levchin Yelp is the first investment, America’s largest comments on web) and served as the market value of $3 billion, the directors of the company he invested in other size billions of yuan of the startups, such as Pinterest, Stripe and Square (Pinterest is a picture of social networking sites in the United States, Stripe is an online payment service provider in the United States, Square, an American mobile payment start-ups)

as an entrepreneur, levchin CV entrepreneurial experience was rich and colorful. Social game developers Slide after Paypal, the United States is his biggest project. However, in 2012, Google paid $200 million for eventually Slide, although looks like a huge sum of money, but also is compared and the acquisition of Paypal for a drop in the bucket. What’s worse is that Google gave up after a year’s Slide project, focus on the development of Google + and operations.

to some extent, Slide seems to end is doomed from the start. Because in levchin never really care about social or games, his favorite is mathematics and financial technology. But levchin anyway don’t want to return to the original financial services, because always involuntarily compared with Paypal.

this week, said levchin told Mashable “Paypal influence is too big for me, I try to take some time to escape it, because I don’t want to always and his past. But if I don’t the next venture project Paypal size so big?”

in retrospect, he asked the words “I why want to escape from my area?” Seems to be calling to your previous self.

personal struggle levchin fully reflects the scientific luminaries pressure and self-esteem. These are inevitable to become part of the startup, the rise of the rocket ship speed startup companies are eager to find or build a more powerful rocket ship “. It is no doubt for the “Paypal Mafia” truth, Paypal Mafia members include Paypal co-founder Peter teal (Peter Thiel), he was a billionaire venture capitalists and entrepreneurs, and Elon Musk, (Elon Musk), the human space exploration technology company is building real rocket ship building. In their circles, to sell a game software of hundreds of millions of dollars that sort of thing is most cute.

in the confusion, have personal guide to levchin, and helped him to get back on track. This person is not silicon valley’s entrepreneurs, nor Paypal’s former colleagues, but his wife. He USES his wife as he’s chief motivational and whips.

levchin said. “I get the best advice from his wife is that I’m good at field, because there is my advantage. So don’t ashamed to create another financial services company, if you are good at singing, you don’t need to prove to the world you are a dancer.”

levchin next dish of is

as early as in 2011, after sold Slide left Google, levchin establish business incubator called HVF (full Hard Valuable Fun) to hatch a career. There are two outstanding companies, this one is to monitor the condition of pregnancy Glow, one is today’s Affirm. Levchin chose the latter as a dedicated career in 2014.

Affirm the short-term goal is to make people more convenient shopping, installment payment more quickly. Affirm the cooperation of manufacturers is selected, most of them are start-up companies, such as mattresses and Casper. According to the different vendors and commodity prices, consumer can be devided into 3, 6, 9 or 12 payments, interest rates between 6% and 30%.

to raise a lot of money, most is bond financing, Affirm hope to attract more tenants.

it sounds attractive, but Affirm hope that through the millennium a generation of young people to rethink the financial service requirements, to explore more market, these young people tired of the traditional banking system, more like mobile payment.

for 39 levchin oneself, already does not belong to the millennial generation, he can not Affirm the target customer base, but he knew that this was a once-in-a-lifetime opportunity. He said, “this is a huge and rapidly emerging market.”

Affirm the long-term goal is to establish a set of perfect consumer financial service system, both in terms of the credit card and on the traditional access services. Levchin said “compared to the ATM or bank branches, we hope that we can more mobile phones as the preferred financial instruments.”

if the redesign the entire financial system sounds very incredible, that still have to thank levchin’s wife, she said “why fly to the moon? Should be to fly to the galaxy.

“fly to the Milky Way is” levchin have been trying to target. In the process, if beyond the Paypal, that will be.

levchin with long-unseen self-confidence said “I believe that Affirm can do than Paypal, I believe it can even is greater than the world’s largest Banks.”

in the future, however, he finally calm in the face of its past glory, says “I don’t mind people compare now I and the past.”


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