Source: ARK Disrupt Issue 130: June 25, 2018. By @bhavanaARK

Paying friends for lunch is simple these days thanks to a number of peer-to-peer (P2P) apps. Among the most popular are Venmo and Square Cash despite other options like Facebook Messenger payments. Venmo is the most social, making it fun as well as convenient.

In a survey, Morning Consult validates Venmo’s popularity with the 18-29 age group relative to other demographics. While 43% of the young use Venmo, only 6% of those in the 55-65 age group and 2% of those 65+ do. If Facebook is any guide, the network effect could sustain Venmo’s growth for years as parents and grandparents follow their children and grandchildren into the new world.

ARK Invest Issue 130 Graph 1

But could this trend change? Facebook started off as a college social networking site that has since grown to represent the broader population. Venmo has similar potential and the possibility of becoming popular with other age groups. This is all the more true considering PayPal’s efforts in building additional features such as “Pay with Venmo” and its on-boarding of vibrant merchants such as Poshmark, Munchery and Lululemon that accept Venmo Payments.

View original article and other research here.

ARK’s statements are not an endorsement of any company or a recommendation to buy, sell or hold any security. For a list of all purchases and sales made by ARK for client accounts during the past year that could be considered by the SEC as recommendations, click here. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities in this list. For full disclosures, click here.

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Fred Pye

Frederick T. Pye


Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.