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BitPass

4600 Bohannon Drive #100
Menlo Park, CA 94025
USA
(650)-388-3000
Website Company Summary Management Team
Team

Management: Matthew C. Graves (COO);  Gyuchang Jun (CTO);  Denis Concordel (VP Product Management & IT Operations)
Advisory board: Scott McCloud (Understanding Comics);  Eric Thomson (electronic payments expertise)
Company

Business description: BitPass offers an innovative micropayment system. Enabling paid access to a broad range of online content and services, the BitPass service provides a secure, anonymous buying experience. Using BitPass, anyone can manage, market, and deliver digital content or services--and, most importantly, earn money. Prior to BitPass, no single system provided an economical way to process payments for low-price content and services coupled with secure access control. The BitPass solution is based on the founding belief that the most important criterion is ease of use for both Spender and Earner. The result is a system that makes buying as easy as surfing the web and selling as easy as uploading a file. To purchase online content or services, Spenders buy a virtual prepaid debit card using trusted pay-in methods, such as PayPal, Visa, MasterCard, Discover, or American Express. The intuitive service seamlessly integrates into the Spender's browsing experience with no software downloads required. Content and service providers can enable their content and services in as little as 30 minutes by uploading a single file to their site. No setup fees or additional software are required. Earners receive payment directly from BitPass for each transaction.
Customers include: Disney OnlineMPERIATime;  ABC;  CanWest Global Communications;  ninemsn;  paidContent.org;  Patent Logistics;  UnitedMedia;  woxy.com;  Ziff Davis Media
Partners include: Microsoft
Capital

Rounds: 2
Recent fundings: Sep 2004   Jul 2003
Capital raised: 13.25M
Last Round: 11.75M
Ownership: Private  
Corporate investors: Steamboat Ventures

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Overview
Record updated: Oct 2006
Sector: Internet
Year Founded: 2003
Rounds: 2
Recent fundings: Sep 2004   Jul 2003
Capital raised: 13.25M
Last Round: 11.75M
Ownership: Private