Jaja - Mobile Credit Card

Money, investing, mutuals etc
pabenny
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Re: Jaja - Mobile Credit Card

Post by pabenny » Mon Dec 03, 2018 6:38 am

Start up losses, indeed:
Monzo - year ended February 2018. Income £1.8m; losses £30m
WeSwap - year ended December 2017. Income £1.1m; losses £5.7m
Last edited by pabenny on Mon Dec 03, 2018 3:29 pm, edited 1 time in total.

planteria
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Re: Jaja - Mobile Credit Card

Post by planteria » Mon Dec 03, 2018 9:00 am

out of my sphere with this thread, but fair play to axel for having a go..
"a unicorn" in what respect?

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Re: Jaja - Mobile Credit Card

Post by axelandpixel » Mon Dec 03, 2018 2:16 pm

planteria wrote:
Mon Dec 03, 2018 9:00 am
out of my sphere with this thread, but fair play to axel for having a go..
"a unicorn" in what respect?
It's a term for privately held startup company valued at over £1 billion. It's likely derived from the fact that unicorns don’t exist and so to have a startup that managed to be valued at such a high valuation is very rare considering there are so many startups out there.
pabenny wrote:
Mon Dec 03, 2018 6:38 am
Start up losses, indeed:
Monzo - year ended February 2018. Income £1.8m; losses £30m
WeSwap - year ended December 2017. £1.1m; losses £5.7m
It's normal for startups to be in a loss in their first few years so I don't really worry about it. It's just like setting up any other businesses. If they manage to keep growing, in time they'll breakeven and be profitable. I'll update here what happens to WeSwap when it lists on London exchange next month hopefully as that gives a chance for shareholders to cash in their profits.

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Re: Jaja - Mobile Credit Card

Post by Constantine » Mon Dec 03, 2018 3:58 pm

planteria wrote:
Mon Dec 03, 2018 9:00 am
out of my sphere with this thread, but fair play to axel for having a go..
"a unicorn" in what respect?
I think axel was "having a go" at collecting the "£10 extra cashback for sharing with a trusted friend or family member, when they join the waiting list" :) .

P.S. I have no idea where the unicorn comes in.

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Re: Jaja - Mobile Credit Card

Post by Constantine » Mon Dec 03, 2018 4:50 pm

axelandpixel wrote:
Mon Dec 03, 2018 2:16 pm

It's normal for startups to be in a loss in their first few years so I don't really worry about it. It's just like setting up any other businesses. If they manage to keep growing, in time they'll breakeven and be profitable.
Indeed it is perfectly 'normal' for startups to lose money.

Some of them will crash and burn, some of them will eventually book mega profits. Working out which is which is the challenge.
axelandpixel wrote:
Mon Dec 03, 2018 2:16 pm
I'll update here what happens to WeSwap when it lists on London exchange next month hopefully as that gives a chance for shareholders to cash in their profits.
Cash in their profits? Doesn't so much confidence in the company's long term prospects. :)

And WeSwap are yet another fintech. Looks like a prepaid travel money card. Losses to date £18.5m. Was insolvent as at 31 Dec 2017. Restated their 2016 results after discovering an additional £2m loss.

Their cards are issued by IDT Financial Services Ltd which is a regulated bank, licensed by the Financial Services Commission in Gibraltar

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Re: Jaja - Mobile Credit Card

Post by axelandpixel » Mon Dec 03, 2018 7:39 pm

Constantine wrote:
Mon Dec 03, 2018 3:58 pm


I think axel was "having a go" at collecting the "£10 extra cashback for sharing with a trusted friend or family member, when they join the waiting list" :) .

P.S. I have no idea where the unicorn comes in.
Having a little extra is nice, YES. But I have put a little investment in that startup so I LIKE to promote it. We were talking about Monzo reaching the unicorn status which is just a term in fintech so that's where it comes in. P.S You come across to me as annoying. I'd rather not explain more except that if the IPO next month will push through, I'll update it here if it was a bad or good investment. :wave:

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Re: Jaja - Mobile Credit Card

Post by pabenny » Mon Dec 03, 2018 7:53 pm

Constantine wrote:
Mon Dec 03, 2018 4:50 pm
Some of them will crash and burn, some of them will eventually book mega profits. Working out which is which is the challenge.
And very few from the first dot.com boom made mega profits. The only ones I can think of are amazon, eBay and PayPal. There were various others that shone brightly for a while - yahoo, aol.

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