JPMorgan buys fintech start-up WePay

JPMorgan Chase to acquire online payment startup WePay; source says deal is for more than WePay's 2015 valuation of ~$220M  

It’s a cliché to say that startups are rollercoasters.

But it’s a cliché because it’s true. The past 9 years have been the most intense of my life. The WePay team has navigated pivots, faced near-death experiences, celebrated marriages & babies, posted big wins, raised millions, forged company-defining partnerships, welcomed new faces, and mourned the losses of colleagues and friends.

We’ve processed a lot of payments too – helping countless small businesses get paid faster and easier, and helping people and causes raise billions for those in need.
Through it all, the WePay community and its commitment to each other has elevated the highs and bound us together in the lows. For that, I am eternally thankful to the amazing and unique group of people I am so privileged to call colleagues. Of all the titles I’m fortunate to hold, teammate is my favorite.
Today, I’m excited because we’re beginning a new chapter in the WePay journey. We are beginning the work to combine our talent and technology with the capabilities, brand and distribution of one of the world’s largest and most respected financial institutions: JPMorgan Chase & Co. (press release)
With Chase behind us, we’ll continue to focus on serving the unique needs of software platforms, with a team that will double in size over the next year. We’ll quickly become one of the most well-financed payments technology companies in the world – and beyond that, we’ll serve as a platform for Chase to grow its footprint in fintech and Silicon Valley, all while continuing to operate with autonomy under the WePay name. Rich, myself, and all of the WePay team are continuing on with us – and we’re hiring!

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