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In 2022, Venmo recorded a total payment volume of $244 billion, representing a 6% growth compared to the previous year.
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The estimated earnings of Venmo in 2022 amounted to $935 million, marking a 10% increase from the figures in 2021.
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With a user base exceeding 78 million individuals, Venmo enjoys widespread popularity, particularly in the United States.
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As part of its acquisition of Braintree, PayPal acquired Venmo in 2013 for $800 million.
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Venmo Revenue and Usage Statistics
Step into the vibrant world of peer-to-peer payment platforms as we delve into the captivating realm of Venmo. In this insightful blog, we embark on a thrilling journey, unearthing the remarkable revenue and usage statistics behind this financial powerhouse. Prepare to be astonished as we unravel the secrets of Venmo's meteoric rise, uncovering the impact it has made on our digital landscape and everyday transactions. Join us as we explore the staggering numbers, dissecting the trends and insights that have propelled Venmo to the forefront of the payment revolution. Get ready to witness the transformative power of this ingenious platform that has reshaped the way we exchange funds, making cashless transactions a seamless and enjoyable experience for millions.
Venmo Key Statistics
Venmo Overview
| Launch date | August 2009 (March 2012 public launch) |
| HQ | New York City, US |
| People | Dan Schulman (PayPal CEO), Mark Britto (CPO) |
| Business Type | Subsidiary |
| Parent Company | PayPal |
| Industry | Finance |
Venmo Revenue
In 2022, both Venmo and the rest of PayPal experienced a deceleration in annual revenue growth, settling at a rate of 10% for Venmo specifically.
Venmo Annual Revenue 2017 to 2021 ($mm)
| Year | Revenue ($mm) |
|---|---|
| 2017 | 160 |
| 2018 | 200 |
| 2019 | 300 |
| 2020 | 450 |
| 2021 | 850 |
| 2022 | 935 |
Venmo Annual Payment Volume
In 2022, Venmo facilitated payment transactions exceeding $200 billion, which accounted for approximately 18% of PayPal's overall payment volume.
Venmo Annual Payment Volume 2014 To 2021 ($Bn)
| Year | Total Payment Volume ($bn) |
|---|---|
| 2014 | 2.3 |
| 2015 | 7.5 |
| 2016 | 20 |
| 2017 | 34 |
| 2018 | 62 |
| 2019 | 101 |
| 2020 | 159 |
| 2021 | 230 |
| 2022 | 244 |
Venmo Users
In 2022, Venmo attracted a user base of over 75 million individuals. PayPal defines users as those who access Venmo at least once within a year.
Venmo Annual Users 2015 to 2021 (mm)
| Year | Users (mm) |
|---|---|
| 2015 | 3 |
| 2016 | 5 |
| 2017 | 10 |
| 2018 | 23 |
| 2019 | 40 |
| 2020 | 52 |
| 2021 | 70 |
| 2022 | 78 |
Venmo Valuation
In 2020, Venmo attained a standalone valuation of $38 billion.
Venmo Valuation 2015 to 2020 ($mm)
| Year | Valuation ($bn) |
|---|---|
| 2013 | 0.1 |
| 2018 | 15 |
| 2020 | 38 |
Venmo FAQ
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What Is Venmo's Revenue And Usage Statistics?
Venmo's revenue and usage statistics were impressive. In 2020, Venmo generated $450 million in revenue. In terms of user activity, Venmo processed $159 billion in total payment volume during the same year.
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How Does Venmo Generate Revenue?
Venmo primarily generates revenue through transaction fees. While the app itself is free to use, Venmo charges a fee for certain transactions, such as instant transfers to a bank account or debit card. Additionally, Venmo offers optional services, such as the Venmo Card, which may incur fees.
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How Many Users Does Venmo Have?
Venmo had over 70 million active users. However, please note that these numbers may have changed since then, so it's always best to refer to the most recent data for the latest user count.
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Is Venmo Widely Used?
Yes, Venmo is widely used and has gained significant popularity in the United States. It has become one of the leading peer-to-peer payment platforms, allowing users to easily send and receive money from friends, family, or merchants. Venmo's user-friendly interface and social features have contributed to its widespread adoption.
