£6 per month for a few months (which few made) vs a £1000 investment when I have a fully packaged account that offered similar but far better. I would have been daft to go plus then don’t you think? Although I do have money in my account that Monzo earn interest from.
Sure. But it also makes that you stamping your feet complaining you don’t get special treatment… rather myopic.
Btw, there were various benefits for investors along the way - early access to things, etc. I think you’re acting quite entitled, and in quite a laughable way.
2 Likes
IMO plus for life would make a good perk for higher tiers of a future crowdfunding. It’s not really practical for monzo to give it away to all 30k ish existing investors - probably a high proportion of signups are investors anyway.
Might be worth them giving a free month to investors though after the initial wave of signups dies down - to keep people talking about plus and tempt a few more users on board for the long term.
I do hope they can think of another few features to make it more compelling, and that they adopt an approach which shares the benefits with core monzo in the long term (e.g. give core monzo the same features with limits, make plus unlimited).
1 Like
And yielding dividends along the way.
I think that would be many years down the line but to incentivise though who have put money into supporting the company doesn’t seem like a strange idea to me.
I think dividends are way off mate.
Kind of are though, eh?:
You admitted you don’t really use Monzo much:
And it’s not just me saying it:
And you do realise that the VC companies would happily (and easily) have stumped up the capital allocated to crowdfunding, right? The point of the crowdfunding was to engender a highly-engaged userbase. It seems you have a retroactively-constructed view of Monzo as a struggling startup that you believed in through thick and thin and, in whatever small way, they owe you something for your long (dubious, see above) allegiance. However, the reality is that every crowdfunding round sold out in minutes or seconds, people were desperate to invest. Monzo has been the darling of the Fintech scene from basically the beginning. So your reconstruction of history is really grossly wrong.
Given the above, I think your investment smacks more of profiteering than support, to be honest.
4 Likes
If you invest in Plus are you not diluting your original investment? 60 pound per annum plus fees winging £1000 shares would reduce your stake to £940?
Let’s just not talk about ‘investing’ in Plus. It’s a purchase of a service, pure and simple.
3 Likes
His shares were worth almost £30000 (until recently). Try to not cry too many tears for him.
As someone who goes too many lavish shareholder meetings/events & enjoys many benefits and free hospitality, I don’t see why some folk consider your proposal to be “out of the ordinary “.
3 Likes
It all depends on how you look at the bigger picture. But it’s fine to disagree with someone.
1 Like
I think investors could have been offered Plus at say …£3.50 per month. Hopefully Monzo would still be making a profit from that. Just my opinion.
1 Like
No.
Do you not think it would be unfair on those who couldn’t afford to invest or didn’t get the opportunity to invest?
1 Like
No. That’s like saying “don’t you think Non Barclays shareholders should get free dividends”? You have to be in it to win it. Why not share out the lottery winnings with people who never bought a ticket?
Your analogy doesn’t work, given that anyone can buy Barclays shares, but Monzo’s rounds had limited availability and are not traded on an exchange.
1 Like
That’s not the same. Dividends and capital gain are inherent parts of investing. That’s the reward.
Getting cheaper services from companies you have shares in is not.
1 Like