Google Ventures Backs Scvngr’s Mobile Payments App

Boston-based Scvngr has raised $12 million in new funding to support the nationwide rollout of LevelUp, an app that allows consumers to use their phone to pay at the cash register. So far, the service has signed up 200,000 users who spend $2 million a month at 3,000 merchants in eight cities. Investors include Highland Capital, Google Ventures, Balderton Capital, Continental Advisors and Transmedia Capital.


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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