Another Mobile Payments Provider Raises Venture Capital

Boston-based Paydiant has raised $7.6 million ahead of launching its mobile payment services later this year. The first round was led by North Bridge Venture Partners and General Catalyst Partners. It’s unclear what part of the value chain the company will play in, but the co-founders Chris Gardner, Kevin Laracey and Joe Paratore, have all worked at payment companies before, including edocs and m-Qube.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work