This is the original Groupon business model, interesting that it ended up being successful.<p><i>It started as ThePoint.com, a site launched in November 2007 that lets you start a campaign asking people to give money or do something as a group--but only once a "tipping point" of people agree to participate.</i><p><i>Founder Andrew Mason and his investors soon realized The Point was headed toward failure, and fast. The founders worked on it a year and they went through about $1 million but got no traction. Its business model was not working.</i>
Congratulations James! I keep kicking myself for not helping revamp your PHP code base to become employee #3 four years ago.<p>I do hope you blog about the failure of your micro loan venture one day - it's incredibly inspiring how you ended up turning it around (especially in the light of your current success).
Execution matters and when you're the official crowdfunding platform for reddit , I'm sure that helps.<p><a href="http://blog.reddit.com/2012/08/new-fundraising-options-designed-just.html" rel="nofollow">http://blog.reddit.com/2012/08/new-fundraising-options-desig...</a>
Congrats guys!<p>Looks like pg needs to update his tweet: <a href="https://twitter.com/paulg/status/411213292330164224" rel="nofollow">https://twitter.com/paulg/status/411213292330164224</a>